May 6, 2008
Dear Ms. Morris:
One of the things that makes me most sick about investing is how irresponsible companies become when profit is the only goal. In order to prepare for my retirement and be financially secure, I have to invest in companies that have no ethical responsibility to the people. The time has come for corporations with the giant pocketbooks and huge influence to take ethical responsibilty for the toll that corporate globalism is taking on the planet.
I am writing in support of the “Petition for Interpretive Guidance on Climate Risk Disclosure” filed with the Commission on September 18, 2007.
I am an individual investor who is concerned about the risks that climate change poses to my investments. I am also concerned that corporate disclosure on climate risk by companies is inconsistent and many companies are failing to disclose their risks. Companies in many sectors face increasing risks from climate change and its impacts, and investors who are currently in the dark will likely be adversely affected by corporate losses in the future that are tied to climate change impacts.
The SEC currently requires companies to disclose risks that could reasonably affect their sales or revenues. However, most companies are failing to disclose their risks from climate change, even though these risks are highly likely to have a great impact. I believe that corporations that register with the SEC should ****ess the regulatory, physical and litigation-related risks they face from climate change, and disclose their material risks in SEC filings. Commission guidance would be extremely helpful in providing investors this important information.
Thank you for your consideration of this critical issue. I hope my comments will be useful to the Commission and Staff in their deliberations.