Corporate Governance Improvement and Investor Protection Act

Bill: 117-hr-1187
Sponsor: Rep. Vargas, Juan [D-CA-51]
Introduced: 2021-02-18 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Administrative remedies
Advisory bodies
Air quality
Alternative and renewable resources
Asia
Assault and harassment offenses
Atmospheric science and weather
Business ethics
Business investment and capital
Business records
China
Climate change and greenhouse gases
Coal
Computer security and identity theft
Congressional oversight
Contracts and agency
Corporate finance and management
Detention of persons
Elections, voting, political campaign regulation
Employee benefits and pensions
Employee hiring
Employment and training programs
Employment discrimination and employee rights
Environmental assessment, monitoring, research
Financial services and investments
Fraud offenses and financial crimes
Government ethics and transparency, public corruption
Government information and archives
Government studies and investigations
Human rights
Labor market
Labor standards
Labor-management relations
Manufacturing
Minority employment
Oil and gas
Racial and ethnic relations
Religion
Securities
Securities and Exchange Commission (SEC)
Self-employed
Sex offenses
Small business
Tax administration and collection, taxpayers
Taxation of foreign income
Temporary and part-time employment
Unemployment
Wages and earnings
Women's employment
Worker safety and health

Summary:
action_date: 2021-02-18
text: 

ESG Disclosure Simplification Act of 2021

 
This bill requires an issuer of securities to annually disclose to shareholders certain environmental, social, and governance metrics and their connection to the long-term business strategy of the issuer. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission policies to facilitate the flow of capital towards environmentally sustainable investments. 

action_date: 2021-06-08
text: 

ESG Disclosure Simplification Act of 2021

 
This bill requires an issuer of securities to annually disclose to shareholders certain environmental, social, and governance metrics and their connection to the long-term business strategy of the issuer. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission policies to facilitate the flow of capital towards environmentally sustainable investments. 

action_date: 2021-06-16
text: 

Corporate Governance Improvement and Investor Protection Act 

 
This bill requires publicly traded companies to periodically disclose information related to 
 
 
environmental, social, and governance performance metrics; 
 
expenditures for certain political activities; 
 
compensation information regarding executive officers and employees; 
 
climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets; 
 
tax jurisdiction, income, and assets of constituent entities on a country-by-country basis; 
 
workforce management policies, practices, and performance; 
 
incidents of workplace harassment and retaliation; 
 
cybersecurity; 
 
the demographic composition of the board of directors and executive officers; and 
 
manufacturing activity in China's Xinjiang Uyghur Autonomous Region. 
 
 
The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments.
 
The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues. 
 
The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics. 


Legislative actions:
action_date: 2021-06-17
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2021-06-16
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2021-06-16
text: On passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).
action_date: 2021-06-16
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).
action_date: 2021-06-16
text: On motion to recommit Failed by the Yeas and Nays: 207 - 218 (Roll no. 168).
action_date: 2021-06-16
text: The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
action_date: 2021-06-16
text: Mr. Barr moved to recommit to the Committee on Financial Services. (text: CR H2862)
action_date: 2021-06-16
text: The previous question was ordered pursuant to the rule.
action_date: 2021-06-16
text: Motion to reconsider laid on the table. Agreed to without objection.
action_date: 2021-06-16
text: Motion to reconsider laid on the table. Agreed to without objection.
action_date: 2021-06-16
text: Motion to reconsider laid on the table. Agreed to without objection.
action_date: 2021-06-16
text: Motion to reconsider laid on the table. Agreed to without objection.
action_date: 2021-06-16
text: UNFINISHED BUSINESS - The Chair announced that the unfinished business was on agreeing to amendments which were debated earlier and on which previous questions were postponed.
action_date: 2021-06-16
text: Considered as unfinished business. (consideration: CR H2859-2863)
action_date: 2021-06-16
text: Pursuant to clause 1(c) of rule XIX, the House resumed consideration of H.R. 1187.
action_date: 2021-06-16
text: POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX further proceedings on H.R. 1187 were postponed.
action_date: 2021-06-16
text: DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Plaskett amendment No. 10.
action_date: 2021-06-16
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Schrier amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
action_date: 2021-06-16
text: DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Schrier amendment No. 8.
action_date: 2021-06-16
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Hill amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hill demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
action_date: 2021-06-16
text: DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Hill amendment No. 4.
action_date: 2021-06-16
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment en bloc, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
action_date: 2021-06-16
text: DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 20 minutes of debate on the Waters amendment en bloc No. 1.
action_date: 2021-06-16
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Burgess amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Burgess demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
action_date: 2021-06-16
text: DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Burgess amendment No. 1.
action_date: 2021-06-16
text: DEBATE - The House proceeded with one hour of debate on H.R. 1187.
action_date: 2021-06-16
text: Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
action_date: 2021-06-16
text: Considered under the provisions of rule H. Res. 473. (consideration: CR H2830-2855; text: CR H2830-2834)
action_date: 2021-06-14
text: Rule H. Res. 473 passed House.
action_date: 2021-06-14
text: Rules Committee Resolution H. Res. 473 Reported to House. Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.
action_date: 2021-06-08
text: Placed on the Union Calendar, Calendar No. 37.
action_date: 2021-06-08
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.
action_date: 2021-06-08
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.
action_date: 2021-04-21
text: Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 22.
action_date: 2021-04-21
text: Committee Consideration and Mark-up Session Held.
action_date: 2021-04-20
text: Committee Consideration and Mark-up Session Held.
action_date: 2021-02-18
text: Referred to the House Committee on Financial Services.
action_date: 2021-02-18
text: Introduced in House
action_date: 2021-02-18
text: Introduced in House