EDF, Allies Support SEC’s Proposed Climate Risk Financial Disclosure Standard

(Washington, D.C. – June 17, 2022) Environmental Defense Fund, New York University School of Law’s Institute for Policy Integrity, and other experts are supporting the U.S. Securities and Exchange Commission’s (SEC) proposed standard on climate-related financial risk disclosure.

The groups filed three sets of comments today in SEC’s public comment period about its proposal, which would help meet investor demand for decision-useful information about climate related financial risks faced by publicly traded companies across the U.S. financial system.

“Climate change poses significant and growing financial risks across the United States. Bringing disclosure of climate risk level with the requirements for disclosure of other forms of financial risk, as the SEC’s proposed, is long overdue,” said Michael Panfil, Senior Director and Lead Counsel of Climate Risk and Clean Power at EDF. “The SEC has a responsibility to ensure investors have access to relevant risk information. Our filings today make clear that the financial risks posed by climate change should no longer be exempted from that obligation.”

A wide range of other experts have also filed comments in support of the SEC’s proposal – including investors, asset managers, companies, former bipartisan SEC regulators, public officials, climate scientists, and law school and business school professors.

You can read our comments here, here and here.