Apr. 01, 2022
Dear Chair Gary Gensler, With the help of the highly respected Union of Concerned Scientists at my side, I write to support Proposed Rule S7-10-22: Enhancement and Standardization of Climate-Related Disclosures for Investors. This encouragement comes from one who has followed the tragedy of pollution for a long time and is as well dependent on corporations. BlackRock, Bank of America, oil heating, the list goes on and on of institutions I cannot disavow. Their integration into all of our lives is exactly why major power holders must act with an urgency and enthusiasm appropriate to the challenges of these times. Floods, droughts, massive fires, harsher hurricanes than before, plastic in our oceans and diets, misunderstood diseases, filthy water and air, rain forest removal, extinctions or near-extinctions of everything from rare plants to biological components as basic as pollinators - these are not mere factors that happen to cause significant instability and disruption in our financial and economic systems. It can get far worse from here. It can also get much better. The implementation and enforcement of a strong rule will give investors the tools we need to protect our investments and hold companies accountable for reducing heat-trapping emissions. I am proud of the Securities and Exchange Commission for taking on what powerful yet calcified thinkers at the top of their businesses cannot connect regarding the state of the world today. This rule would increase transparency by requiring corporations to report how much heat-trapping emissions their operations produce, how climate impacts might affect their businesses, and how they plan to meet their global warming emissions reduction targets. The rule would help shareholders, policymakers, and the public hold corporations accountable for reducing emissions and would allow investors of all sizes to make smart and informed decisions about where to invest their money. Thank you for exercising the mandate to ensure that investors and the public have access to science-based information about risks that could affect their investments. Regulation is as basic as it gets to functioning human form. Our bodies are equipped with regulators that we tend to take for granted, especially for as long as one is healthy. The analogy is clear - we can no longer take for granted our reaping the abundance of nature as if Creation itself was a toy and we the lucky children. Having data about the likely effects of climate change on companies’ assets and long-term business outlook is essential for investors to make informed decisions and protect the wellbeing of our economy. Please pass a strong climate disclosure rule as soon as possible. Sincerely, Mister John Savlove North Bennington, VT 05257