In response to the SEC’s vote to publish for public comment the rule titled, “The Enhancement and Standardization of Climate-Related Disclosures for Investors”, the PRI released the following statement from Head of U.S. Policy Greg Hershman:

“As the risks stemming from climate change continue to grow, so too do the information needs of investors. The SEC’s three-part mission begins with “protect investors” and investors require consistent, comparable disclosure from companies on their exposure to climate change. The current universe of climate disclosures is an incomplete patchwork of voluntary information presented in different places using different formats. We are hopeful that this update to the SEC’s disclosure rules is able to move efficiently through the regulatory process so investors can have clarity on the decision-useful climate information they need.”

In response to the SEC’s request for comment on climate disclosures last year, the PRI submitted a detailed response, along with a signatory sign on letter with over 100 signatures representing $11.6T in AUM supporting standardized, mandatory disclosure of ESG data. In addition, the PRI conducted a survey for US signatories,published a briefing and held webinars to inform and answer signatory questions, and hosted SEC Chair Gary Gensler to discuss climate change disclosures.

The PRI will host a public webinar on April 5th to discuss the proposed rule and will submit a consultation response during the public comment period.