Sep. 15, 2022
THE WORLD IS BEING CHOKED TO DEATH BY THE EMISSIONS FROM THE FOSSIL FUEL AND MANY OTHER LARGE POLLUTING COMPANIES. I INSIST ON BEING TOLD WHAT KIND AND HOW MUCH POLLUTANTS ARE BEING PRODUCED. I WANT TO WITHDRAW MY INVESTMENTS FROM COMPANIES THAT WON'T COMMIT TO LOW OR NO CARBON EMISSIONS. I MUST PROTECT MY RETIREMENT FUNDS, AND HOPEFULLY THE EARTH. I WOULD LIKE TO LEAVE THE EARTH AS A VIABLE PLACE FOR MY CHILDREN AND GRANDCHILDREN, AND THE POPULATIONS OF THE WORLD, TO LIVE. As an investor looking to maximize my returns, I need to know whether or not a company is preparing to be successful in a low-carbon world. More and more economies are adopting policies and taking steps to align with the goals of the Paris Agreement. Companies not working to reduce their Scope 1, 2 and 3 greenhouse emissions may not be prepared for that future. Without this information, I won't be able to tell what companies are likely to continue to be profitable as the economy transitions to clean energy and which companies could put my savings at risk. Earlier this summer you proposed a rule to require publicly traded companies to disclose "material" Scope 3 emissions. Many investors - both asset managers and individual investors like me - asked you to make this a requirement for all large public companies, and I am hopeful that you will listen to the voices of regular people like me, not just big corporations looking to hide their risks. As you look to finalize these rules, I wanted to thank you for doing everything in your power to ensure that investors like me have the information we need to be able to make smart investing decisions for a low-carbon future. I am looking forward to seeing strong greenhouse gas disclosures, inclusive of Scope 3 emissions, in your final ruling later this year. James M. Woolly, PhD