American Legal Framework

Section 1504 of the Dodd–Frank Wall Street Reform and Consumer Protection Act

Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed by President Obama on July 21, requires companies listed by the Securities and Exchange Commission (SEC) to report on almost every payment made to foreign governments to develop natural resources. The bill, known as the Wall Street Reform Act (WSRA), specifies that payments should be listed project by project.


The Dodd–Frank Wall Street Reform a...

The Sarbanes-Oxley Act

The Sarbanes-Oxley Act (formally the Public Company Reform and Investor Protection Act, 15 USC 7245 7256), 2002 imposed several reporting requirements for US-listed companies to increase corporate transparency (mainly corporate governance).


The Sarbanes-Oxley Act...


Other American Initiatives

Western Regional Climate Action Initiative (WCI)

The WCI is a North American initiative made up of US states, Canadian provinces, Mexican states, and tribes which work collaboratively to combat climate change. WCI partners are currently developing a joint strategy to reduce regional GHG emissions in order to achieve the regional reduction goal of 15% below 2005 emissions by 2020. As part of this strategy, the WCI developed a cap-and-trade program from January 2012. On 15 July 2009 the WCI issued the final version of the first group of Essential Requirements for Mandatory Reporting.


WCI Website...

Climate Registry

The Climate Registry is a nonprofit collaboration among North American states, provinces, territories and Native Sovereign Nations that sets consistent and transparent requirements to calculate verify and publicly report greenhouse gas (GHG) emissions into a single registry.
The Registry supports both voluntary and mandatory reporting programs and provides comprehensive, accurate data to reduce GHG emissions.
The Climate Registry was created in 2007.

The Climate Registry Website...
Présentation du Climate Registry...

L’EEO-1 Survey

The EEO-1 Survey requires annual filing by the US Equal Employment Opportunity Commission regarding employment records, including the racial and gender profiles of employees. The revised survey must be used after 30 September 2007. Section D 'Employment Data' (ethnic and racial categories) was the only section revised at this point. It allows employers to report peoples of "two or more races, Asian, Native Hawaiian or other Pacific Islander, Black or African American, Hispanic or Latino," and encourages self-identification rather than reporting by employers.


EEO-1 Survey...

Securities& Exchange Commission (SEC)

Under Regulation S-K, the SEC requires "appropriate disclosure...as to the material effects that compliance with Federal, State and local provisions which have been enacted or adopted regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, may have upon the capital expenditures, earnings and competitive position of the registrant and its subsidiaries." In Form K-10 the SEC requires disclosure on legislative compliance, judicial proceedings and liabilities relating to the environment.
More specifically, SEC Rule S-K, Item 103 Instruction 5 (Environmental Claims) requires companies to disclose proceedings involving monetary sanctions over $100 000.
In addition, disclosure is required for any material estimated capital expenditure for environmental control facilities and for select legal proceedings on environmental matters. For foreign issuers in the United States, Form 20-F requires companies to "describe any environmental issues that may affect the company's utilisation of the assets." Compliance and Disclosure Interpretations (C&Dis) were reviewed and updated as needed and republished as of 3 July 2008. The last revision was 14 August 2009. These changes have not impacted CSR reporting.
In October 2009 SEC reversed the existing policy under Rule 14a-8 that had allowed companies to exclude shareholder resolutions requesting information on the financial risks associated with environmental, human rights and other social issues facing companies.


Commission Guidance Regarding Discl...

The Toxic Release Inventory (TRI)

The Toxic Release Inventory (TRI), 1988 requires companies with more than 10 full-time employees to submit data on emissions of specified toxic chemicals to the Environmental Protection Agency.

The Toxic Release Inventory (TRI)...

Reporting of Greenhouse Gas Rule

The GHGR, which became effective December 29, 2009, requires the reporting of GHG emissions and other relevant information from certain source categories in the United States. The GHGR includes reporting requirements for facilities that emit GHGs and for suppliers of fuels and industrial gases. Facilities and suppliers must meet the applicability criteria in 40 C.F.R. part 98, subpart A or must submit annual GHG reports in accordance with the provisions in 40 C.F.R. 98.3(c). This rule amends 40 C.F.R. part 98 to include the additional information outlined above. The rule is effective November 22, 2010.

Reporting of Greenhouse Gas Rule...

The National Association of Insurance Commissions (NAIC)

National Association of Insurance Commissions (NAIC) adopted a mandatory requirement that insurance companies disclose to regulators the financial risks they face from climate change, as well as actions the companies are taking to respond to those risks. In addition to reporting on how they are altering their risk management and catastrophe risk modeling in light of the challenges posed by climate change, insurers will also need to report on steps they are taking to engage and educate policymakers and policyholders on the risks of climate change, as well as whether and how they are changing their investment strategies.
All insurance companies with annual premiums of $500 million or more will be required to complete an Insurer Climate Risk Disclosure Survey every year, with an initial reporting deadline of 1 May 2010. The surveys must be submitted in the state where the insurance company is domiciled.

The National Association of Insuran...

DIRECT LINKS
 

Section 1504 of the Dodd–Frank Wall Street Reform and Consumer Protection Act
The Sarbanes-Oxley Act
Western Regional Climate Action Initiative (WCI)
Climate Registry
L’EEO-1 Survey
Securities& Exchange Commission (SEC)
The Toxic Release Inventory (TRI)
Reporting of Greenhouse Gas Rule
The National Association of Insurance Commissions (NAIC)


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