(Reuters) – The US Securities and Exchange Commission plans to propose a rule that requires public companies to disclose a range of labor information when the agency intensifies environmental, social and governance information, its new chairman, Gary Gensler, said Thursday.
Mr. Gensler told an audience of agency and academic researchers that "investors increasingly want to understand information about … one of the most critical components of companies, their workforce."
He said that the staff would propose a new rule on disclosure of labor or Measured values "human capital". These revelations may include information on issues such as diversity of workers, part-time versus full-time employees and staff turnover, according to legal groups that have pushed for the new rules.
"This is one of my top priorities and will be an early focus during my time at the SEC," Gensler told the Assembly.
The SEC is expanding its ESG agenda to implement the Democrats' priorities to address issues Mr Gensler has previously said that the agency is also planning a new climate change information rule.
Earlier this year, former acting SEC President Allison Lee launched a review of public companies' information on climate risks to help SEC staff: Advocacy groups had pushed the SEC to provide more useful ESG information after former Republican President Donald Trump's regulators eroded investors' access to key information and their ability to push for ESG action. [1
“Investors need reliable, consistent and comparable information within a range. of other issues, including political spending, human rights, human capital management, diversity and inclusion, international taxes, gender and executive pay, one and more, he said.