Here's why the Biden administration's latest virtue-signaling initiative would accomplish little but have serious costs.
So, other than virtue signalling, what is the point of regulations such as these? To make the Federal government more bloated and intrusive than it already is?
What is the point of reporting on diversity within a corporation? The implication is that if you are not diverse enough (presumably some arbitrary standard) then you must be racist? One of the many problems with this line of thinking is that lack of diversity could be caused by many factors. Lack of diversity at a given location, cultural reasons, etc. Yes, the leaders of a company could be racist and if they enact racist policies or otherwise act in a racist way then they should be called out for it. Unfortunately, that can't really be determined from a simplistic statistic.
The same goes for carbon output. Even if you buy into the theory that carbon is going to destroy the planet, how much energy (and therefore, to some degree, the amount of carbon) a company uses is going to be in part dictated by the size and nature of the company and not bear any relationship to how much they may care about the environment.
These aren't even reports that the government plans to do anything with. It's purely for investors. Investors care about the long and short term profitability of a company. At the end of the day, these are just more useless regulations that will incur costs that will then be passed on to the consumer. It's like a tax where the proceeds are burned.