In the past year, we've seen a vicious backlash against “ESG” (environmental, social, and corporate governance measures meant to hold companies to account). Now, in the wake of midterm elections that left us with a divided Congress, the agency charged with ensuring corporate transparency faces fierce political headwinds.
US companies have resisted the public country-by-country reporting of key financial information that is necessary for adequate tax transparency. Hess and Newmont’s announcements show that US companies are finally catching up with their international peers.
A Play on International Tax Policy, in Three Acts | And the moral of the tale is: The Senate’s contempt for international agreements can still backfire.