Jun. 14, 2022
Secretary Vanessa A. Countryman Countryman, Investors who have a retirement plan like a 401K, pension, or IRA–and their investment managers need access to standardized, comparable information about public companies’ vulnerability to climate change, their current greenhouse gas (GHG) emissions, and their plans to manage climate risks and make good on their public climate commitments. The current practice of permitting companies to voluntarily choose what and how they want to report, and even whether or not they want to disclose their climate-related financial risks, makes it impossible for investors and other market participants to fully understand and compare the risks and opportunities associated with different investments. That’s why I support the Securities and Exchange Commission (SEC)’s recent proposal (87 FR 21334; File No: S7-10-22) to require public companies to make standardized, mandatory disclosures about their climate-related financial risks within annual SEC filings. This change in rules would be the transparency needed for investors to make informed decisions and for companies to start owning up to best business practices if they want investors to continue backing them. It also would go a long way to having companies start taking responsibility for their part in either continuing to be a part of the climate change problem or the solution. Sincerely, Jan Feldberg