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. Shareholders have a right to know if oil executives are trying to buy off politicians to slow progress on addressing climate change. They 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. We are seeing way too many after the fact revelations about companies including Enron, Equinox and Facebook. People's livelihood and private information have been jeopardized because there seem to be little or no requirements for transparency about many choices that companies are making. As someone with years of experience in science, I am concerned that the biggest threat to humanity and our country, global warming, is being ignored and perpetuated by the policies and financial choices of many companies. As a citizen, I would like to know that companies from which I purchase materials or services are responding to climate change by reducing their own carbon consumption and encouraging the use of clean energy in any ways that are available to them. Thank you for considering my comment. Julie Bernstein