My latest Client Alert discusses the SEC Staff's recent action regarding shareholder-submitted proposals concerning environmental, social and governance (ESG) topics to be included in public company proxy statements and voted on at annual shareholder meetings.
Climate-related issues have taken on an enhanced level of concern at the federal government level since the Biden administration rejoined the Paris Agreement in an effort to stem climate change impacts, and the administration intensified its focus on achieving significant nationwide reduction of greenhouse gas (GHG) emissions. As climate change can directly and indirectly impact a company’s present value and prospects for the future, the SEC is pursuing actions that strongly signal an intention to require the disclosure by public companies of a broader range of climate-related risks to potential investors.
Click here to read the Client Alert in its entirety.
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