Letter to Regulators: AFREF, Public Citizen, and 60 Partners and Securities Law Experts urge SEC to Require Climate and ESG Disclosures

Americans for Financial Reform Education Fund and Public Citizen were joined by 60 organizations and securities law experts in a comment letter to the SEC calling for mandatory climate and ESG disclosures for all issuers.

“Given the physical and transition risks inherent to the ongoing climate crisis and the shift away from fossil fuels and carbon-intensive industry, investors need more information about companies’ growing climate financial risk, their contribution to climate change, and their plans for remaining viable in a low-carbon future economy. Investors are thus reasonably seeking information that allows them to better assess the climate risks and opportunities of individual issuers. At the same time, it is important to remember that climate change is not just an environmental crisis, but one of social justice, wealth distribution, equity and human rights. It is vitally important that disclosures from issuers include elements of environmental and climate justice, as well as other ESG issues like political spending; tax; lobbying; diversity, equity, and inclusion; and human capital management practices to allow investors to make a holistic assessment of an issuer’s overall sustainability and more informed investment decisions.”

View or download a PDF of the letter here.