Should the SEC Regulate and Enforce Environmental Impact Reporting?
• "I think it is way, way out of their lane; it’s the tail wagging the dog.. I think there are other mechanisms to help identify what sort of metrics companies are operating under.. I don’t think the SEC has any business even remotely playing in this area." Source: Representative Garret Graves (Republican, Louisiana, District 6)
• "Climate change is one of the greatest threats we face. Equipping investors with a better understanding of the climate-related risks facing America's public companies will enable smarter and safer investment decisions, provide greater long-term stability to the American economy, and help our nation fight climate change," Source: (Democrat, New Jersey)
H.R. 2570 would give the US Securities and Exchange Commission a legal mandate to enact climate disclosure requirements upon publicly traded companies, and force them to disclose climate-related information to the public on an annual basis. This would include direct and indirect greenhouse gas emissions, and all climate-related risks associated with their operations, encouraging the SEC to take an “all-of-agency approach to climate.” Sponsor: Representative Sean Casten (Democrat, Illinois, District 6)
- Executive Order on Climate-Related Financial Risk (The White House)
- U.S. SEC chair tells Congress he plans new rules on climate risk, trading (Reuters)
- House committee approves bill to require climate risk disclosures (Yahoo Finance)
- Is financial regulation the way to advance a climate agenda? (NBC News)