STATEMENT: CAP Commends the SEC on Proposing Rule To Require Climate Risk Disclosures
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.
- “The SEC’s Scope 3 Climate Emissions Rule Should Not Be Based on Materiality” by Todd Phillips and Alexandra Thornton
- “The SEC Should Write Its Own Environmental, Social, and Governance Rules” by Dylan Bruce, Tyler Gellasch, Todd Phillips, Alexandra Thornton
- “Why Companies Should Be Required To Disclose Their Scope 3 Emissions” by Alexandra Thornton
- “The SEC Has Broad Authority To Require Climate and Other ESG Disclosures” by Alexandra Thornton and Tyler Gellasch
- “The SEC’s Time To Act” by Alexandra Thornton and Andy Green
For more information or to speak to an expert, contact Julia Cusick at firstname.lastname@example.org.