Warren reintroduces bill mandating climate disclosures by companies

Warren reintroduces bill mandating climate disclosures by companies
© Greg Nash

Sen. Elizabeth WarrenElizabeth Ann WarrenSanders supporters cry foul over Working Families endorsement of Warren California poll: Biden, Sanders lead Democratic field; Harris takes fifth Kamala Harris calls for new investigation into Kavanaugh allegations MORE (D-Mass.) on Wednesday reintroduced legislation in the Senate that would require public companies to disclose climate-related risks they are exposed to.

The Climate Risk Disclosure Act would direct the Securities and Exchange Commission, in consultation with climate experts at other federal agencies, to issue rules within the next year requiring companies to disclose their greenhouse gas emissions, fossil fuel assets and its risk management strategies related to the climate crisis.

A companion bill was introduced in the House by Rep. Sean CastenSean CastenSwing-seat Democrats oppose impeachment, handing Pelosi leverage Ex-GOP Rep. Roskam joins lobbying firm The House Democrats who voted to kill impeachment effort MORE (D-Ill.).

ADVERTISEMENT

"It's time to wake up and fight back against giant corporations that want to pollute our environment and ask taxpayers to clean up the mess," Warren said in a statement. 

"I'm reintroducing the Climate Risk Disclosure Act to give investors, and the American public, the power to hold corporations accountable for their role in the climate crisis," she said.

All Senators running for the Democratic nomination are co-sponsors on the legislation in the Senate, as well as Green New Deal proponent Sen. Ed MarkeyEdward (Ed) John MarkeyYoung insurgents aren't rushing to Kennedy's side in Markey fight Ocasio-Cortez endorses Markey in Senate race amid speculation over Kennedy candidacy House votes to block drilling in Arctic refuge MORE (D-Mass.).

Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezOcasio-Cortez endorses challenger to Democrat Lipinski in Illinois race The Hill's Morning Report - What is Trump's next move on Iran? The Memo: Times correction gives GOP lifeline in latest Kavanaugh controversy MORE (D-N.Y.) was a co-sponsor of the House legislation. 

"Our bill utilizes market mechanisms to incentivize climate action by ensuring that corporations disclose the risks posed by climate action to the benefit of their shareholders and the public," Casten said.