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

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About the bill

Should publicly traded companies be required to publicly reveal their business risks related to the climate crisis?

Context

The Securities and Exchange Commission requires public companies to disclose “material risks” to the public and investors, but what qualifies as material risks is up to each individual company itself. As a result, what’s disclosed varies widely, even among companies in the same industry.

In particular, as the climate crisis has gotten consistently worse — with perpetually rising temperatures and accordingly disastrous weather and temperature extremes — many public companies have not been ...

Sponsor and status

Sean Casten

Sponsor. Representative for Illinois's 6th congressional district. Democrat.

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Last Updated: Jul 5, 2019
Length: 26 pages
Introduced
Jul 5, 2019
Status

Ordered Reported on Jul 16, 2019

The committees assigned to this bill sent it to the House or Senate as a whole for consideration on July 16, 2019.

Prognosis
12% chance of being enacted according to Skopos Labs (details)
Source

Position statements

What legislators are saying

Boehner Statement on House Passage of VA Management Accountability Act
    — Rep. John Boehner [R-OH8, 1991-2015] on May 21, 2014

More statements at ProPublica Represent...

What stakeholders are saying

Institute for Spending Reform SpendingTracker.org estimates new spending due to H.R. 3623 will be negligible.

History

Jul 5, 2019
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jul 16, 2019
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

If this bill has further action, the following steps may occur next:
 
Passed House

 
Passed Senate

 
Signed by the President

H.R. 3623 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 3623 — 116th Congress: Climate Risk Disclosure Act of 2019.” www.GovTrack.us. 2019. October 16, 2019 <https://www.govtrack.us/congress/bills/116/hr3623>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.