Rep. Hill Offers Practical, Good Governance Amendment to Replace House Democrats’ Partisan, Left-Wing Legislation
Washington,
June 16, 2021
WASHINGTON, D.C. – Rep. French Hill (AR-02) today offered an amendment to improve and replace House Democrats’ H.R. 1187, the ESG Disclosure Simplification Act of 2021, a partisan, left-wing bill aimed at naming and shaming public companies. Rep. Hill’s amendment would have replaced the underlying text of the bill and required the Securities and Exchange Commission (SEC) to conduct a study summarizing and describing any inconsistencies in the methodologies related to environment, social and governance (ESG) and climate-risk before requiring any type of disclosure from public companies. As Rep. Hill outlined, “We could use the information my amendment calls for to craft a more thoughtful bill targeted to actual disclosure problems, to the extent those problems actually exist. Congress should not be developing legislation, nor should the SEC be writing rules, until we have this information compiled and publicly available.” Rep. Hill discussed his amendment prior to voting on the bill on the House Floor – a full clip of his remarks can be viewed below:
Earlier this month, Rep. Hill led a letter, co-signed by 22 Republican members of Congress on the Financial Service Committee, to SEC Chairman Gary Gensler outlining their views with the SEC’s plans to mandate disclosures for public companies regarding climate change and greenhouse gas emissions. |
