(Washington, DC) – Congressman Doug LaMalfa (R-Richvale) released the following statement after the House of Representatives passed H.R. 1187, the ESG Disclosure Simplification Act. This bill would impose burdensome, complicated, and useless private sector mandates on public companies to report unnecessary information to investors about environmental, social, and governance (ESG) impacts. Subjects found in these reports include: carbon emissions, biodiversity, inclusivity, and the racial, ethnic, and gender composition of company board seats.
Rep. LaMalfa said: “Investors don’t need a ‘wokeness’ report card on a company’s long-term business strategy. Through this bill, Democrats will use bureaucrats to forcibly collect information that progressive interest groups will use to publicly harass American companies. Reports through the Securities and Exchange Commission should be designed to better inform investors about a company’s financial health and relative risk, not to promote cancel culture.”
Go to Source