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SEC files brief defending climate rule (2024)
| Environmental, social, and corporate governance |
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The Securities and Exchange Commission submitted a brief to the U.S. Eighth Circuit Court of Appeals last week seeking to defend its rule requiring corporate climate disclosures. The agency argued environmental risks are relevant to investment decisions:
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The U.S. Securities and Exchange Commission launched a defense in court of its new climate reporting rule, arguing that the proposed disclosures in the rule provide “information directly relevant to the value of investments,” and that it is within the Commission’s authority to mandate climate risk disclosures. In a brief filed this week with the U.S. Eighth Circuit Court of Appeals, the Commission reiterated its view that “climate-related risks—and a public company’s response to those risks—can significantly affect a company’s financial performance and position,” yet current reporting on these risks are “inconsistent,” and “difficult to compare,” impeding the ability of investors to make decisions. … In its filings, the Commission outlined its decision to adopt the new climate disclosure rule, highlighting a need for “more detailed, consistent, and comparable information,” and “substantial investor demand,” citing investor feedback, for climate-related information to help inform investment and voting decisions.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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