April 13, 2022
This type of proposed mandatory reporting is not a new concept globally. The Global Reporting Initiative (GRI) databases are just one example of these practices being adopted on a wide scale. Researchers have found that mandated reporting such as this has had a positive effect on the environmental conciseness of companies as there is a higher pressure to make a positive impact with these environmental and social components of their business. Making this reporting mandatory increases statistical accuracy for financial analysis and reduces negative ESG incidents by corporate entities (Article below). This proposal will hold the corporate giants of the US accountable for their actions and impact on everyday Americans. This proposal should pass to help increase transparency, accountability, and accuracy of the information for The United States Corporate Elites.
https://corpgov.law.harvard.edu/2021/05/10/the-effects-of-mandatory-esg-disclosure-around-the-world/