Americans for Financial Reform Education Fund and Public Citizen submitted a joint comment letter to the SEC calling for mandatory climate and ESG disclosures for all issuers, in response to Commissioner Allison Herren Lee’s Request for Public Input.

“A growing chorus of bipartisan U.S. financial regulators and their international peers agree: mitigating climate financial risk is clearly within the purview of financial regulation because climate change and the urgent human response create substantial financial risk to businesses, investors, financial institutions, the global financial system, other market participants like suppliers, employees, and customers, and the public at large. Over the coming decades, climate financial risk will increasingly affect the profitability of businesses, the pricing of assets, and the safety and soundness of the financial system. The SEC can protect investors, promote fair and efficient capital markets, and facilitate capital formation in line with a range of investment horizons and goals by implementing a robust, mandatory disclosure regime for climate and ESG risks.”