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Bill117th CongressFiled Feb 18, 2021Finance and Financial Sector
H.R. 1187

Corporate Governance Improvement and Investor Protection Act

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house (Jun 16, 2021)

Corporate Governance Improvement and Investor Protection Act

This bill requires publicly traded companies to periodically disclose information related to

  • environmental, social, and governance performance metrics;
  • expenditures for certain political activities;
  • compensation information regarding executive officers and employees;
  • climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets;
  • tax jurisdiction, income, and assets of constituent entities on a country-by-country basis;
  • workforce management policies, practices, and performance;
  • incidents of workplace harassment and retaliation;
  • cybersecurity;
  • the demographic composition of the board of directors and executive officers; and
  • manufacturing activity in China's Xinjiang Uyghur Autonomous Region.

The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments.

The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues.

The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.

What just happenedJun 17, 2021

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Who’s behind it

Rep. Vargas, Juan [D-CA-51](D-CA)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors2committees39actions6amendments12related bills51subjects
  1. Jun 17, 2021IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  2. Jun 16, 2021FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jun 16, 2021FloorH37100

    On passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).

  4. Jun 16, 2021Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 215 - 214 (Roll no. 169).

  5. Jun 16, 2021FloorH36210

    On motion to recommit Failed by the Yeas and Nays: 207 - 218 (Roll no. 168).

    Financial Services Committee
  6. Jun 16, 2021FloorH8A000

    The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.

  7. Jun 16, 2021FloorH36200

    Mr. Barr moved to recommit to the Committee on Financial Services. (text: CR H2862)

    Financial Services Committee
  8. Jun 16, 2021FloorH35000

    The previous question was ordered pursuant to the rule.

  9. Jun 16, 2021FloorH8D000

    Motion to reconsider laid on the table. Agreed to without objection.

  10. Jun 16, 2021FloorH8D000

    Motion to reconsider laid on the table. Agreed to without objection.

  11. Jun 16, 2021FloorH8D000

    Motion to reconsider laid on the table. Agreed to without objection.

  12. Jun 16, 2021FloorH8D000

    Motion to reconsider laid on the table. Agreed to without objection.

  13. Jun 16, 2021FloorH8D000

    UNFINISHED BUSINESS - The Chair announced that the unfinished business was on agreeing to amendments which were debated earlier and on which previous questions were postponed.

  14. Jun 16, 2021FloorH30000

    Considered as unfinished business. (consideration: CR H2859-2863)

  15. Jun 16, 2021FloorH8D000

    Pursuant to clause 1(c) of rule XIX, the House resumed consideration of H.R. 1187.

  16. Jun 16, 2021FloorH8D000

    POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX further proceedings on H.R. 1187 were postponed.

  17. Jun 16, 2021FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Plaskett amendment No. 10.

  18. Jun 16, 2021FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Schrier amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  19. Jun 16, 2021FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Schrier amendment No. 8.

  20. Jun 16, 2021FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Hill amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Hill demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  21. Jun 16, 2021FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Hill amendment No. 4.

  22. Jun 16, 2021FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment en bloc, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  23. Jun 16, 2021FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 20 minutes of debate on the Waters amendment en bloc No. 1.

  24. Jun 16, 2021FloorH8D000

    POSTPONED PROCEEDINGS - At the conclusion of debate on the Burgess amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Burgess demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.

  25. Jun 16, 2021FloorH8D000

    DEBATE - Pursuant to the provisions of H. Res. 473, the House proceeded with 10 minutes of debate on the Burgess amendment No. 1.

  26. Jun 16, 2021FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 1187.

  27. Jun 16, 2021FloorH8D000

    Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.

  28. Jun 16, 2021FloorH30000

    Considered under the provisions of rule H. Res. 473. (consideration: CR H2830-2855; text: CR H2830-2834)

  29. Jun 14, 2021FloorH1L220

    Rule H. Res. 473 passed House.

  30. Jun 14, 2021FloorH1L210

    Rules Committee Resolution H. Res. 473 Reported to House. Resolution provides for consideration of H.R. 256 under a closed rule and provides for consideration of H.R. 1187 under a structured rule. The resolution provides for one hour of debate for each bill and for one motion to recommit for each bill. The resolution provides that H. Res. 467 is adopted.

  31. Jun 8, 2021CalendarsH12410

    Placed on the Union Calendar, Calendar No. 37.

  32. Jun 8, 2021CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.

    Financial Services Committee
  33. Jun 8, 2021Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 117-54.

    Financial Services Committee
  34. Apr 21, 2021Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 22.

    Financial Services Committee
  35. Apr 21, 2021Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  36. Apr 20, 2021Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  37. Feb 18, 2021IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  38. Feb 18, 2021IntroReferralIntro-H

    Introduced in House

  39. Feb 18, 2021IntroReferral1000

    Introduced in House

Passed HouseJun 16, 202153

Corporate Governance Improvement and Investor Protection Act

This bill requires publicly traded companies to periodically disclose information related to

  • environmental, social, and governance performance metrics;
  • expenditures for certain political activities;
  • compensation information regarding executive officers and employees;
  • climate change-related risks, including direct and indirect greenhouse gas emissions and fossil fuel-related assets;
  • tax jurisdiction, income, and assets of constituent entities on a country-by-country basis;
  • workforce management policies, practices, and performance;
  • incidents of workplace harassment and retaliation;
  • cybersecurity;
  • the demographic composition of the board of directors and executive officers; and
  • manufacturing activity in China's Xinjiang Uyghur Autonomous Region.

The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission (SEC) policies to facilitate the flow of capital toward environmentally sustainable investments.

The SEC must report on the viability and occurrence of shareholder collective action, particularly regarding employment, environmental, social, and governance issues.

The SEC must also report on compliance issues small businesses face with respect to disclosure requirements related to environmental, social, and governance performance metrics.

Reported to HouseJun 8, 20217

ESG Disclosure Simplification Act of 2021

This bill requires an issuer of securities to annually disclose to shareholders certain environmental, social, and governance metrics and their connection to the long-term business strategy of the issuer. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission policies to facilitate the flow of capital towards environmentally sustainable investments.

Introduced in HouseFeb 18, 2021

ESG Disclosure Simplification Act of 2021

This bill requires an issuer of securities to annually disclose to shareholders certain environmental, social, and governance metrics and their connection to the long-term business strategy of the issuer. The bill also establishes the Sustainable Finance Advisory Committee that must, among other duties, recommend to the Securities and Exchange Commission policies to facilitate the flow of capital towards environmentally sustainable investments.

Corporate Governance Improvement and Investor Protection Act — Informed