Bill > HR2570

This bill, the Climate Risk Disclosure Act of 2021, amends the Securities Exchange Act of 1934 to require certain companies (known as "covered issuers") to disclose information related to climate change and its potential financial impacts. The key provisions include: 1) Requiring covered issuers to report on their identification, evaluation, and management of physical and transition risks posed by climate change, as well as the potential financial impacts of those risks. 2) Directing the Securities and Exchange Commission (SEC) to issue rules establishing standardized, industry-specific climate-related disclosure requirements, including reporting on greenhouse gas emissions and fossil fuel assets. 3) Providing a "backstop" measure that allows covered issuers to comply with the Task Force on Climate-related Financial Disclosures recommendations if the SEC does not issue rules within 2 years of the bill's enactment. 4) Authorizing appropriations to the SEC to carry out the requirements of the bill. The goal of the bill is to increase transparency around climate-related financial risks and opportunities, in order to better inform investor decision-making and facilitate a smoother economic transition to a low-emissions future.

Business and Industry

https://www.congress.gov/bill/117th-congress/house-bill/2570/all-info