Sep. 19, 2022
Dear Chair Gensler, I am writing to thank you for taking steps to make it easier for investors like me to understand climate risk. As an investor, I'm very concerned about the economic impacts climate change is already having. As the effects of climate change grow, those impacts could increasingly affect economic growth and the retirement savings of millions. When I evaluate an investment, I need to know if a company is taking steps to be successful in a global economy that is decarbonizing. Companies that aren't working to reduce their Scope 1, 2 and 3 greenhouse gas emissions won't be ready for that future. Without this information, I won't know which companies are likely to continue to be profitable as the economy transitions to clean energy and which companies could put themselves, the planet, and 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. 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 you can 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. Sincerely, Joab Schultheis