1996 | OriginalPaper | Buchkapitel
Environmental Disclosure and the U.S. Securities Laws
verfasst von : Robert H. Feller, Bruce W. Piasecki
Erschienen in: Clean Production
Verlag: Springer Berlin Heidelberg
Enthalten in: Professional Book Archive
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In many areas, government is moving towards self-regulation or marketplace regulation of corporate environmental activity. One such opportunity, under the US securities laws, is quite promising but has not been developed to its potential. The paper explores the requirements for corporate disclosure of environmental liabilities, compliance costs and related matters. It examines the extent of authority which the Securities and Exchange Commission (SEC) has under the US securities laws and the policy choices faced by the SEC in exercising that authority. The paper concludes that the implementation of disclosure requirements is not serving a valuable informational function for investors. Changes are recommended to make the requirements more responsive to investor needs, consistent with the SEC’s view of the statutory framework.