HJ 11: Montana Urges Congress to Oppose SEC's ESG Disclosure Requirements

April 12, 2023

Summary

Joint Resolution HJ 11 was adopted by the state House and Senate in April 2023 and urges Montana's congressional representatives  to "push back" on ESG policies based on the SEC's March 21, 2022 proposal to require publicly traded companies to disclose climate-related information in SEC filings and the SEC's May 25, 2022 proposed amendments enhancing required disclosures related to ESG factors. The resolution advises the state Division of Banking and Financial Institutions to "not implement examination policies or guidelines that go beyond traditional 'safety and soundness' risk assessments." The resolution notes that "dozens of Montana communities" depend on the state's mineral, timber, energy, and agricultural resources as a "backbone of their economies."

 

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