Microsoft և Alphabet – one of the most well-known companies, whose investors are focused on environmental, social and management issues, are trying to maintain them ECG: Disclosure of normative legal acts due to fear of legislative risk.
The ESG positions of the technical companies, which have recently been submitted to the US Securities and Exchange Commission, have clashed with the heads of Pimco, Invesco and other large assets who want to include ESG information in their annual 10-K regulatory documents. The SEC intends to make disclosures mandatory; discusses where they should be made.
The chief executive of the Center for Interreligious Corporate Responsibility, Osh Osh Inner, which includes religious organizations and other ECG-minded investors, said such revelations would “create a more level playing field for the management of these companies.”
Microsoft և Alphabet, he said, “are positioned as sustainability leaders; they should certainly support the mandatory disclosure of ESG issues, including in their regulatory documents, where they will be responsible for the content of this information.”
The battle between asset managers’s companies over ESG disclosure is expected to intensify in the coming months. Global warming համար For companies posing new human rights risks, the SEC has begun to set unprecedented rules of disclosure for the growing ECG segment.
By 2021, nearly a third of global stock inflows had entered the ECG, according to a June 1 report from Bank of America. Controlled assets in ESG funds reached a record $ 1.4t in April, more than double the previous year’s level, rising almost unchanged from the YSG asset interest rate, the bank said.
Microsoft և Alphabet used this channel. Microsoft is the largest holder of US ECG funds, according to Bank of America. The alphabet is one of the top 10 ESG companies and is held in almost half of US ESG funds.
The alphabet joined other technology companies SEC letter: Last week, ESG unveiled the proposed proposals “to be equipped with separate climate reports to the SEC.”
“Given that climate exposure is based on estimates and assumptions that contain inherent uncertainty, companies can be held unnecessarily liable, including from private parties,” the companies said.
If companies are worried about suing, it could hurt the SEC’s overall goal of providing more ECG data to the market, said Patrick Flynn, Vice President of Salesforce Sustainability, one of the signatories. “It’s a new process for companies, they have to create new procedures. Allowing certain types of safe ports from liability. ,,[allows]”Companies are willing to step in, not do the least.”
In a statement, Microsoft said: his SEC letter did not intend to assume that climate exposure was completely exempt from SEC registration. It says its cycle of climate data collection and verification may not coincide with year-end financial statements.
While it will continue to provide ESG disclosures outside of SEC registrations, Microsoft said: “We believe that climate disclosures in SEC registrations should be limited to information relevant to the company for investment or voting decisions.”
The alphabet declined to comment.
“While it is wonderful to see ESG corporate executives advocating for the SEC to adopt climate disclosure standards, we do not agree with their assertion that these disclosures should depart from current SEC standard documents such as 10-K, 10-Q or a proxy statement, ”said Molly Beturney, director of shareholder advocacy at Clean Yield Asset Management, which has $ 450 million in assets. “The standard climate report should include regular SEC records.”