Tell Congress: The SEC must exercise its full authority and protect investors from climate-related financial risks
Given the growing economic risks caused by the climate crisis and the shift towards a clean energy transition, investors -- people like teachers, nurses, and firefighters with 401(k) and IRA retirement accounts -- increasingly want more standardized, comparable information about companies’ climate-related financial risks, their contributions to climate change, and their plans for remaining solvent in a low-carbon economy.
We’ve been fighting for key provisions to strengthen the Securities and Exchange Commission’s (SEC) proposed rule on climate-related disclosures to protect investors and the economy, but some in Congress want the SEC to let Wall Street off the hook.
Without a strong Climate Disclosure Rule, investors could support some of the biggest polluters on the planet without even knowing it and they won’t have the information they need to choose the best investments that protect the climate or communities most affected by pollution instead.
Join us in telling Congress to ensure the SEC exercises its full authority and protects investors by enforcing a strong Climate Disclosure Rule by adding your name now.
Full Petition Text:
Congress: The SEC must exercise its full authority and protect investors from climate-related financial risks
As your constituent, I urge you to call SEC Chair Gary Gensler and the SEC directly to communicate your support for a strong final climate disclosure rule that requires disclosure of all public companies’ relevant greenhouse gas emissions.
I’m concerned about how climate change will impact my ability and future generations’ ability to save for retirement. I support more standardized, mandatory information about companies’ climate-related financial risks, their contributions to climate change, and their plans for remaining solvent in a low-carbon economy. In particular, I strongly support the SEC’s inclusion of value chain or Scope 3 emissions reporting requirements for many large public companies.
For over 90% of companies, Scope 3 emissions represent the majority of their greenhouse gas pollution, making this a major source of transition risk. Investors, including working people like nurses, teachers, and firefighters who have retirement plans like a 401K, pension, or IRA, need this information to make informed investment decisions to assess risks and protect their savings. This is especially important as the climate crisis worsens and our economy makes the necessary shift away from extractive industries, spurred along by policies like the recently passed Inflation Reduction Act.
As the SEC moves forward to finalize the rule, Chair Gensler needs to hear from members of Congress about how necessary it is for the final rule to include Scope 3 emissions disclosure.
Please call Chair Gensler and tell him:
“The SEC’s congressionally directed mandate obliges you to protect investors and maintain fair, orderly, and efficient markets. We in Congress expect you to exercise your full authority to meet your mandate by requiring large public companies to disclose Scope 3 emissions. You designed the proposal with sensitivity around registrants’ capabilities and with reasonable accommodations, and it is tightly focused on the most significant and decision-useful information for investors, which should be adequate to protect it against litigation. We look forward to a finalized rule as soon as possible.”