Oct. 31, 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. As a CFP in the financial services industry, I've seen and are aware how corporations, their boards, and executive suite make decisions that are often in direct conflict with public stated views on corporate transparency to shareholders, their political positioning and other decisions that result in them being less than a good corporate citizen, as part of overall U S culture, U S and world economy, etc. Such decisions that are often in the short term interests of the executive suite (those usually with the most to gain by stock valuation changes) at the expense of their employees and the health and wellbeing of ALL U S citizens is the epitome of corporations acting in their own self interests. There's no excuse for allowing it, unless one is benefiting from such bad behavior, such as a politician accepting $ that provides corporations access and influence that is significantly disproportionate to and against the desires of the majority of Americans. Disavow such contributions, declare it and explain it your constituents, the media, and demand your fellow politicians do the same. Then look to further reduce excess corporate influence by working to change or enact laws that accomplish such goals. It's what you're there for--not to represent corporate interests, but the interest and desires of ALL Americans. Thank you for considering my comment. Dennis Carr Dennis Carr