Climate Risk Disclosure Act of 2021

Hozzl · 2023-03-08T20:26:17Z

Explore the details of House Bill 2570 Climate Risk Disclosure Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/8/2023, 8:26 PM

Summary of Bill HR 2570

Bill 117 HR 2570, also known as the Climate Risk Disclosure Act of 2021, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to require public companies to disclose information related to their exposure to climate-related risks. This includes risks associated with the physical impacts of climate change, as well as risks related to the transition to a low-carbon economy.

The bill would require companies to disclose information such as their greenhouse gas emissions, their climate-related risks and opportunities, and their strategies for managing these risks. This information would need to be included in annual reports filed with the Securities and Exchange Commission (SEC).

The Climate Risk Disclosure Act of 2021 aims to provide investors, regulators, and the public with more transparency and information about how companies are addressing climate change. By requiring companies to disclose their climate-related risks, the bill seeks to help investors make more informed decisions about where to invest their money and to encourage companies to take action to mitigate their climate risks. Overall, the Climate Risk Disclosure Act of 2021 is a significant piece of legislation that aims to increase transparency and accountability around climate-related risks for public companies. It is part of a broader effort to address climate change and its impacts on the economy and society.

Congressional Summary of HR 2570

Climate Risk Disclosure Act of 2021

This bill directs the Securities and Exchange Commission to require an issuer of securities to annually disclose information regarding climate change-related risks posed to the issuer, including an issuer's strategies and actions to mitigate these risks.

Specifically, issuers must report their direct and indirect greenhouse-gas emissions and disclose their fossil fuel-related assets.

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Current Status of Bill HR 2570

Bill HR 2570 is currently in the status of Introduced to House since April 15, 2021. Bill HR 2570 was introduced during Congress 117 and was introduced to the House on April 15, 2021. Bill HR 2570's most recent activity was Placed on the Union Calendar, Calendar No. 22. as of May 20, 2021

Bipartisan Support of Bill HR 2570

Total Number of Sponsors

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 2570

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

Administrative law and regulatory proceduresAir qualityBusiness recordsClimate change and greenhouse gasesCoalCorporate finance and managementFinancial services and investmentsOil and gasSecuritiesSecurities and Exchange Commission (SEC)Water use and supply

Alternate Title(s) of Bill HR 2570

Climate Risk Disclosure Act of 2021Climate Risk Disclosure Act of 2021Climate Risk Disclosure Act of 2021To amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes.

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