Toxic problems? What problems?
"You could drive a truckload of toxic waste through gaps in SEC environmental disclosure regulations,â€ says Tim Little, executive director and co-founder of the Rose Foundation. The group has petitioned the SEC to close the loopholes, according to SocialFunds.com
To bolster its case, Rose cites a 1998 unpublished study by the EPA that found 74 percent of companies underreporting their environmental liabilities.
Rose also unearthed a 1992 Price Waterhouse (now Pricewaterhouse Coopers) study of 523 companies that found 62 percent had known environmental liabilities that went unrecorded in financial statements in a quantitative manner.