May 6, 2008
Dear Ms. Morris:
I am retired, and live on the income from my investments. I am concerned about the risks that climate change poses to my own financial security -- as well as to the broader economy, and the planet. 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.
Therefore I am writing in support of the "Petition for Interpretive Guidance on Climate Risk Disclosure" filed with the Commission on September 18, 2007.
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.