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Warren reintroduces bill mandating climate disclosures by companies

Warren reintroduces bill mandating climate disclosures by companies
© Greg Nash

Sen. Elizabeth WarrenElizabeth WarrenWarren says she'll run for reelection to Senate Free Speech Inc.: The Democratic Party finds a new but shaky faith in corporate free speech Debate over ICBMs: Will 'defund our defenses' be next? 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 CastenDemocrats don't trust GOP on 1/6 commission: 'These people are dangerous' The Hill's 12:30 Report - Presented by Facebook - Divided House on full display Newman fundraises off of growing feud with Marjorie Taylor Greene MORE (D-Ill.).

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"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 MarkeyEd MarkeyCivilian Climate Corps can help stem rural-urban divide Senate votes to nix Trump rule limiting methane regulation Senate Democrats push Biden over raising refugee cap MORE (D-Mass.).

Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezBattle lines drawn over Biden's support for vaccine waivers Overnight Energy: Update on Biden administration conservation goals | GOP sees opportunity to knock Biden amid rising gas prices | Push for nationwide electric vehicle charging stations The Memo: The GOP's war is already over — Trump won 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.