Still, some House Republicans moved to back a bill requiring that companies disclose the gender, race, ethnicity and veteran status of board members, board nominees and executive officers. Republicans are generally opposing the measures as burdensome to public companies and unnecessary given the requirements that companies already disclose material risks, a mandate that can be subjective. In Congress, Democrats are introducing waves of legislation that would compel companies to release information on how they’re managing an array of environmental, social and governance (ESG) issues, as well as ESG holistically. In a letter that repeatedly quotes Fink’s own words, Warren, of Massachusetts, and fellow Democratic Sens. Cory Booker of New Jersey, Chris Van Hollen of Maryland and Sheldon Whitehouse of Rhode Island ask Fink to support the Climate Risk Disclosure Act, a bill from Warren that would mandate that public companies report information on greenhouse gas emissions, fossil fuel assets, plans to address climate change impacts and impacts if governments implement policies to limit global temperature rise. With plans rolling out, advocates of corporate accountability for climate change, including lawmakers on Capitol Hill and many shareholders, are pushing Fink to take new actions that would escalate pressure on companies. carrier, to become carbon neutral over the next decade. In the weeks that followed, some of the country’s largest corporations revealed plans to do just that, including a $1 billion commitment by Delta Air Lines, the second-largest U.S. The letter from BlackRock CEO Larry Fink to chief executives offered unprecedented support from the manager of more than $7 trillion in investments for the notion that companies must look past a narrow view of the interest of shareholders and address social issues including climate change. Elizabeth Warren and three other Senate Democrats are pressing the world’s largest money manager to take greater action to confront climate change after a landmark letter from the firm’s leader rattled corporate America this year.
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