Washington, D.C. — Today, the U.S. Securities and Exchange Commission (SEC) voted to propose a regulation requiring public companies to disclose their greenhouse gas emissions and climate-related risks. In response Patrick Gaspard, president and CEO of the Center for American Progress, issued the following statement:
The proposal of Chair Gary Gensler and the SEC advances the ball on addressing climate-related risk within the financial sector. If enacted, this rule would take a big step toward ensuring that investors and other market participants have the information they want and need about climate emissions. Basic information—about the physical risks a company faces from climate disasters, the myriad risks it faces from the larger economy transitioning to low-carbon alternatives, or simply the level of emissions a company is responsible for, either directly or indirectly—is fundamental to our free market.
This rulemaking has been a long time coming, and I applaud the SEC’s decision to allow investors, other market participants, companies, and the public the chance to weigh in on this matter so critical to our markets and our future.
For more information or to speak to an expert, contact Julia Cusick at email@example.com.