Re: GAO on Environmental Disclosure

[LSchnapf@aol.com]

The fact that GAO felt it did not have adequate information to evaluate the
compliance with SEC disclosure standards speaks volumes about the adequacy of
the environmental disclosure obligations.
 
Interestingly, in 1977, SEC survived a court challenge to its determination not
to require broader environmental disclosure because of insufficient investor
interest. Given the size of the socially responsible investment movement and
the dramatic increase in shareholder resolutions, SEC might not be able to
survive that court challenge today.
 
Larry  
 
Lawrence P. Schnapf, Esq.
55 E.87th Street #8B
New York, NY 10128
212-756-2205 office
212-996-5395 (home office)
212-593-5955 (fax)
LSchnapf@environmental-law.net