Congressional Budget Office Cost Estimate: H.R. 2570, Climate Risk Disclosure Act of 2021   [open pdf - 163KB]

This is the Congressional Budget Office Cost Estimate as ordered reported by the House Committee on Financial Services on May 12, 2021. From the Document: "H.R. 2570 would require publicly traded companies to annually disclose certain climate-related information to the public. Under the bill, such companies would need to describe physical and financial risks they would face under different climate change scenarios, explain strategies and corporate governance processes in place to manage those risks, and analyze the social cost associated with the company's greenhouse gas emissions. The Securities and Exchange Commission (SEC) would be required to establish and periodically update rules to implement the climate disclosure requirements. The SEC also would be required to annually assess and report to the Congress on the compliance of these public companies with those rules. The Government Accountability Office would be required to periodically evaluate the SEC's effectiveness in carrying out and enforcing the new climate disclosures."

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