U.S. Regulator Launches Review of Companies' Climate Risk Disclosures
The SEC announced that it will update its guidelines on how publicly traded companies should disclose climate change-related risks to investors-
“Now more than ever, investors are considering climate-related issues when making their investment decisions. It is our responsibility to ensure that they have access to material information when planning for their financial future.” - U.S. Securities and Exchange Commission, Acting Chair Allison Herren Lee.
Lee herself has criticized the SEC’s lack of clear guidance on Environmental, Social, and Governance - known as ESG - disclosures, saying in August that many market participants use the rubric as a “significant driver in decision-making.”