The U.S. House of Representatives, by the narrowest of possible margins (215-214), has passed a bill (H.R. 1187) that would dramatically expand environmental, social, and corporate governmental (ESG) disclosures by publicly traded companies. While public attention on the bill has focused primarily on disclosures related to its environmental provisions, the bill would also require dozens of new disclosures related to workforce data.
More specifically, H.R. 1187, entitled the Corporate Governance Improvement and Investor Protection Act, would require the U.S. Securities and Exchange Commission (SEC) to promulgate regulations mandating that publicly traded companies make certain ESG-related disclosures. Very generally speaking, covered companies are those with registered publicly held securities that file annual reports (called Form 10-K) and quarterly reports (Form 10-Q) with the SEC. Given solid opposition to the bill by House Republicans, it is unlikely to be considered anytime soon in the U.S. Senate, where Republicans would almost certainly block its consideration.
Members of the Center for Workplace Compliance (CWC) can read more here.