为什么股东希望在实质性报告

The Securities and Exchange Commission is currently preparing a report to Congress from its review of disclosure rules for U.S. public companies as required by the Jumpstart Our Business Startups (JOBS) Act. These rules, also known as Regulations S-K and S-X, detail the requirements for financial statements. The goal of this report, according to the Commission, is"to comprehensively review the requirements and make recommendations on how to update them to facilitate timely, material disclosure by companies and shareholders' access to that information."

重要的是，可持续的股东，谁知道社会和环境业绩和财务可行性的成熟的关系，有助于确定的披露规则的参数。这解决的本质materiality，该研究一再表明要连接到并受环境，社会和治理问题。

虽然一些审查信息披露规则的理由是基于公司关于公司的成本和所谓的负担投诉提供的材料信息，企业需要了解一些业务照常运营实践和政策构成重大风险，以财政业绩和股票价值。它似乎很明显，减少这些风险可以产生积极的财务业绩，更不用说客户的忠诚度，因此是值得任何的人力资源成本报告此类信息，监管者和现有和潜在的投资者。

凡法律必须介入

企业行为监管在很大程度上是不够的，当涉及到社会和环境后果。公司冒险 - 无论是在国际劳工标准或破坏社区或环境中它的偷工减料 - 削弱了全球经济和增加社会弊病。

Responsible behavior is the obvious solution, but if it is not embraced voluntarily by management, it must be required by law to protect the public interest. Disclosure requirements are part of the essential process of mitigating risks to both companies and society, and deserve to be made stronger, not weaker. Doing so is a clear benefit for shareholders, who deserve to understand how the companies in which they invest make and spend their money.

可持续股东相信，在目前的披露做法，包括普遍缺乏ESG报告显著的差距。虽然已经有关于行政员工的工资率和资源开采发行人支付的披露美国证券交易委员会采取的具体措施，对员工，社会，政治贡献和环境问题领域的全面ESG披露影响，因为他们可以在固有风险的股票价值会对财务业绩。股东必须有他们需要这种政策和做法，以充分知情的决策，业主，包括倡导企业社会和环境责任保证的所有信息。

强制性的环境、社会和治理信息披露必须包含在regulatory filings, including for all company subsidiaries that may be located outside the U.S. to skirt their tax responsibility. Issuers should be required to report annually on a comprehensive, uniform set of sustainability indicators comprised of both universally applicable and industry-specific components.

三和交流，包括NASDAQ OMX和多伦多证券交易所上市，已经支持通过的2014年3月建议谷神为首投资者网络上的气候风险该公司被要求进行实质性评估披露在年度财务申报文件。

通过这种方式，管理地址的方法来决定公司的材料ESG问题，并在其年度财务申报的超链接放置到基于全球报告倡议框架，以下几类在线ESG披露表格：治理和道德操守监督，环境影响，政府关系和政治参与，气候变化，多样性，员工关系，人权，产品和服务的影响和完整性，供应链和承包和社区及社区关系。

让我们提高我们的标准

一个简单的事实是，更加严格的披露标准和要求是必要的，因为缺乏坚持的已经存在的法律。例如，尽管美国证券交易委员会发布了指导委员会关于信息披露四年前与气候变化，最大的3000家的一半在这个国家还是不要在他们的年度报表报告

此外，企业政治披露仍然是投资者的一个重要问题。2010年和2014年间，274个股东的提案申请，要求公司政治开支或游说支出的披露增加，超过100万的公众意见函已经提交给美国证券交易委员会，要求这些公开。

Investors understand that transparent markets and elections are essential to a well-functioning society, while investors have a right to know the legal, regulatory, operational, and reputational risks of a company that may be inconsistent with its business plan and public values and that may contribute to systemic risks to the economy. The Supreme Court, in itsCitizens Uniteddecision, stated that complete real-time disclosure of public company political spending allows shareholders to "determine whether their corporation's political speech advances the corporation's interest in making profits."

Keep in mind that in Europe, ESG disclosure requirements were already implemented earlier this year with a non-financial reporting directive for the EU's 6000 largest companies with at least 500 employees. These companies must report policies, risks and outcomes in the areas of human rights, employee relations, corruption and bribery, board diversity and environmental impact.

这不仅是在欧洲发生。在2013年12月，毕马威（KPMG），联合国环境计划署全球报告倡议组织公布胡萝卜加大棒：全球可持续发展报告政策 -竞彩足球app怎么下载 今天的最佳实践，未来的发展趋势[PDF], covering 45 countries and regions and 180 sustainability reporting policies and initiatives.

Clearly there is increased global interest in regulation and sustainability reporting, with several exchanges requiring it and the observation that corporate reports will increasingly focus on sustainability issues that are material for stakeholders and investors. It's time for us to embrace our responsibility to make money while adhering to responsible policies and practices, and being held accountable when failing to do so.

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