Oct. 17, 2018
The U.S. Securities and Exchange Commission should require corporate managers to be honest with their shareholders about how they are planning for the long term. This means full disclosure of their political campaign spending and related endeavors that affect shareholder and stakeholder value. Shareholders have a right to know if oil executives are using corporate money to influence politicians to slow progress on addressing climate change. Shareholders also have a right to know whether the company is cultivating diversity on its board or moving profits abroad to avoid paying taxes in the U.S. These are just a few examples of the environmental, social, and governance (ESG) risks that the SEC should require public companies to disclose to their shareholders and the public. Patrick Bosold