Nov. 01, 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. In a civil democratic society, shareholders must not be the only stakeholders in a company. The good of society as a whole, not to mention the planet, must be as much a priority as the enrichment of shareholders. Thank you for considering my comment. Judith Gallagher