H.R. 3623: Climate Risk Disclosure Act of 2019

CBO Score


Date of Report

Fri October 4th, 2019

Legislation Details

116th Congress

To amend the Securities Exchange Act of 1934 to require issuers to disclose certain activities relating to climate change, and for other purposes.

Sponsor: Rep. Sean Casten — D — IL

Requires publicly traded companies to annually disclose certain climate-related information to the public. Under the bill such companies would need to describe physical and financial risks they would face under different climate change scenarios, explain strategies and corporate governance processes in place to manage those risks, and analyze the social cost associated company greenhouse gas emissions. The Securities and Exchange Commission (SEC) would be required to establish and periodically update rules to implement the climate disclosure requirements and annually assess and report to the Congress on the extent to which public companies are in compliance. The Government Accountability Office would be required to periodically evaluate the SEC’s effectiveness in carrying out and enforcing the new climate disclosures.

View the full vote history of this bill on GovTrack.us.

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