The GAO investigation of corporate environmental disclosure: An opportunity missed

In July 2004, the Government Accountability Office (GAO) issued Environmental Disclosure—SEC should explore ways to improve tracking and transparency of information [Government Accountability Office. 2004. Environmental Disclosure—SEC should explore ways to improve tracking and transparency of information, GAO, Washington, DC]. The report is the culmination of the organization's extensive investigation into environmental disclosure by corporations in their filings with the Securities and Exchange Commission (SEC). The study was undertaken at the request of three members of the U.S. Senate. This commentary provides an extensive overview of the process, the findings, and the subsequent recommendations of the GAO in its investigation into corporate environmental disclosure. More so, however, it critiques the study, identifying what we see as both the strengths and the shortcomings of the GAO's examination.