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- Some Do’s and Don’t’s for Voluntary ESG Reporting and Disclosures
Some Do’s and Don’t’s for Voluntary ESG Reporting and Disclosures
June 2, 2020, Covington Alert
Increased attention has recently been given by both investors and the Securities and Exchange Commission (SEC) to promoting clear and comparable disclosures of environmental, social and governance (ESG) factors. On May 21, the SEC's Investor Advisory Committee (Committee) debated and endorsed recommendations of the Investor as Owner Subcommittee that the SEC begin in earnest an effort to update the public disclosure reporting framework for companies to include material, decision-useful ESG factors.
The Committee discussion observed that many investors regard certain ESG information in voluntary reports to be material to their voting and investment decisions and that voluntary ESG reports expose companies to anti-fraud litigation risks for misleading disclosures. Considerations such as these highlight the importance for companies to take great care in formulating their voluntary ESG reports. This alert seeks to assist companies with this task.
August 31, 2020, Covington Alert
On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the business (Item 101), legal proceedings (Item 103) and risk factor (Item 105) disclosure requirements of Regulation S-K. These amendments are part of the SEC’s ongoing Disclosure Effectiveness Initiative, the goal of which is to modernize the business and financial ...
July 27, 2020, Covington Alert
On July 22, 2020, the Securities and Exchange Commission (SEC) adopted several proxy rule amendments dealing with proxy advisory firms as part of its ongoing effort to modernize the proxy voting system. The proxy rule amendments, which were proposed in November 2019, codify the SEC’s view that proxy voting advice generally constitutes a solicitation under the ...
April 7, 2020, Covington Alert
Boards of directors, compensation committees and executive officers have begun to confront the impact of the COVID-19 pandemic on their compensation programs. This alert highlights key considerations for public companies as they make important decisions regarding these programs.