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March 21, 2022

We Welcome the SEC’s Climate Proposal Today, Which Recognizes Investors’ Need for Greater Disclosure

WASHINGTON, D.C.— Stephen W. Hall, Legal Director and Securities Specialist at Better Markets, issued the following statement regarding the Securities and Exchange Commission’s (SEC) proposed rule regarding disclosure of climate-related risks, released today:

“We welcome today’s proposed rule from the SEC.  It will go a long way toward ensuring that all investors have more robust, reliable, and comparable information about climate-related risks facing public companies. Investors representing trillions of dollars in assets have been calling for these types of disclosures so they can make more informed decisions about where to invest their money.  And contrary to some critics, this has nothing to do with telling companies how to run their businesses.  Rather, for almost 100 years, a core mission of the SEC has been to ensure that investors receive the information they need to make sound investment decisions, and this proposal falls squarely within that mandate.

“Naturally, the proposal will not have everything everyone wants.  However, it is imperative that the process for increased climate disclosure move forward, beginning with today’s release, and that it reach final form as soon as possible.

“This is a long and complicated proposal, as it should be given the subjects covered.  We will carefully review it in detail and engage further as appropriate, including submission of a  comment letter in response to the proposed rule.”

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Better Markets is a non-profit, non-partisan, and independent organization founded to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.

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