Standards/Standardization

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits

22Dec

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World

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits

The Financial Accounting Standards Board has a busy year ahead of it. It will be advancing projects in three tentpole areas—accounting for software costs and environmental credits and greater disclosure of income-statement expenses—aimed at providing investors with new financial insight, Chairman Rich Jones said in an interview. New rules, which can take years to come to fruition, can also saddle companies with a greater compliance burden. But in outlining his 2024 agenda, Jones said the accounting standard-setter for U.S. companies and nonprofits will again be asking investors and other stakeholders which issues to take up next.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

5Dec

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World

Congress Takes on the EV Mandate

House Republicans have teed up a vote this week on legislation to block President Biden’s back-door electric-vehicle mandate. Democrats are spinning the legislation as an attack on public health, innovation and free markets. The debate is a preview of what we can expect in the 2024 election campaign. The Environmental Protection Agency “is not imposing an EV mandate,” says a memo from Democrats on the Energy and Commerce Committee opposing the GOP legislation. But the EPA in April proposed tailpipe emissions standards for greenhouse gases that would effectively require that electric vehicles make up two-thirds of car sales in 2032. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Mining Industry Seeks to Define One Global Standard for Ethical Practices

23Nov

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World

Mining Industry Seeks to Define One Global Standard for Ethical Practices

Nov. 23, 2023 3:00 am ET|WSJ ProFour of the world’s leading mining associations—representing 86 companies operating 700 mines across 60 countries—are developing a responsible mining code to define one minimum global standard for the industry’s environmental impact, human rights and due diligence, in a bid to meet investor demands and define ethical practices.“We are working to build a standard that is practical, implementable, and adaptable for any mine operator with a commitment to responsible mining practices anywhere in the world, regardless of commodity, geography or size,” said a statement from the International Council on Mining and Metals, the World Gold Council, the Copper Mark and the Mining Association of Canada.Miners are subject to a complex web of requirements underpinning hu...

16Nov

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Business

Proxy Advisers and Double Standards

Gary Gensler has brought down the hammer on public companies that have allegedly misled investors. But when proxy advisers have done the same, the Securities and Exchange Commission Chairman looks the other way, as a new report by the American Council for Capital Formation (ACCF) documents.Glass Lewis and Institutional Shareholder Services provide asset managers, pension funds and university endowments with recommendations on how to vote on corporate proxy resolutions. They can assist institutional investors that lack in-house resources to conduct due diligence before voting on thousands of ballot measures. Together they make up about 90% of the proxy advisory market, and it’s a profitable business.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c...

Insurers Spar With Biden Administration Over Coverage for Mental-Health Care

29Oct

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World

Insurers Spar With Biden Administration Over Coverage for Mental-Health Care

Oct. 29, 2023 10:00 am ETMany consumers with insurance are forced to pay hundreds and even thousands of dollars a year on mental-health care despite a 15-year-old law that is supposed to make such treatment as affordable and accessible as any other type of medical care.Now the Biden administration wants to impose new requirements on insurers that it says would reduce out-of-pocket costs for mental-health care and substance-use-disorder treatment. The insurance industry is firing back, arguing the proposal would drive up prices and set impossible-to-meet standards. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8