Americans for Financial Reform joined a coalition letter to the California Assembly Natural Resources Committee supporting the passage of SB 219 offering technical amendments to the recently passed historic Senate Bill 253, the Climate Corporate Data Accountability Act, and Senate Bill 261, the Climate-related Financial
Americans for Financial Reform Education Fund filed an amicus brief in the 8th Circuit. View or download a PDF of the brief here. Americans for Financial Reform Education Fund joined Environmental Defense Fund, Natural Resources Defense Council, Sierra Club, and Sierra Club Foundation in an
Today, a coalition of public interest organizations filed an amicus brief in the U.S. Court of Appeals for the Eight Circuit defending the Securities and Exchange Commission (SEC) against challenges to its final rule requiring public companies to disclose climate-related risks to their businesses and plans to manage or mitigate them. The SEC rule aligns with the growing consensus among investors and financial regulators in the U.S. and around the world that climate change poses significant risks to financial systems, and that securities regulators have an important role to play in mitigating those risks.
The U.S. Department of the Treasury, Federal Trade Commission (FTC), and Consumer Financial Protection Bureau (CFPB) announced a critical interagency effort that aims to protect consumers from solar fraud and scams, clamp down on bad actors and practices in the industry, promote safe green lending that can benefit consumers and responsible solar businesses, and mitigate climate change. This move comes as more consumers are being marketed and offered loans and leases for green products and projects, due in part to new federal financial incentives that make them more affordable
AFR led a letter signed by 45 environmental justice, energy, consumer, housing, and other organizations urging federal agencies to (1) require consumer protection plans for green lending products across all federal programs, and (2) provide oversight and enforcement around existing consumer protection laws which apply to these
AFREF joined Public Citizen and Sierra Club in a letter to the Basel Committee on Banking Supervision responding to its Discussion Paper, The role of climate scenario analysis in strengthening the management and supervision of climate related financial risks. An excerpt from the letter reads:
AFREF joined Public Citizen, The Sunrise Project, and other organizations in a letter to the U.S. banking regulators urging them to quickly make progress beyond their initial climate-related supervisory efforts with large banks by taking decisive action and enacting enhanced supervision and regulation, and to
AFREF and 11 organizations submitted a comment letter to the Public Company Accounting Oversight Board (PCAOB) in support of a proposal to require public accounting firms to publicly report specified firm- and engagement-level metrics. If finalized, these metrics would provide investors, audit committees, and other stakeholders critical information to compare audit firms, make better-informed decisions, and enhance auditor accountability.
AFR was joined by 52 partner organization in a letter to Senate and House leadership expressing strong opposition to the Congressional Review Act resolutions of disapproval against the Securities and Exchange Commission’s Climate Financial Risk Disclosure Rule and the Climate-Related Financial Risk Management Principles from
AFR joined the Consumer Federation of America and 18 other civil rights, housing, and climate advocacy groups in writing this letter to the National Association of Insurance Commissioners regarding the need for a public, transparent, and national data collection on the property and casualty insurance market.