House energy coalition praises SEC rule to require climate-related disclosures

Leaders of the House Sustainable Energy and Environment Coalition (SEEC) praise the Securities and Exchange Commission’s (SEC) final rule requiring publicly traded companies to make climate-related disclosures to the American public.

The SEEC, including Co-Chairs Reps. Doris Matsui, Mike Quigley, and Paul Tonko, Vice Chairs Reps. Don Beyer of Virginia, Matt Cartwright, Sean Casten, Chellie Pingree, and Katie Porter, and Chair Emeritus Rep. Gerry Connolly of Virginia, is a coalition of 95 members of the U.S. House of Representatives. The coalition, founded in January 2009, works to be a focused, active, and effective on policies that address climate change, promote clean energy innovation and domestic manufacturing, develop renewable energy resources, create family-sustaining clean jobs, protect our nation’s air, water and natural environment, and promote environmental justice.

“Following a record year of climate-related disasters totaling $92.9 billion in the United States, it is undeniable that climate change poses a significant financial risk to our businesses and economy. For far too long, our investors have had to make significant investment decisions without a full picture of a company’s climate-risk exposure. This puts our financial system and the American people at a severe disadvantage when preparing for a rapidly changing climate,” the SEEC said in a statement Wednesday.

The SEEC said the climate disclosure rule approved today “marks the first time that publicly traded companies are required to report climate-related information in a consistent and detailed way to their investors. Not only will companies have to disclose their financial exposure to climate risk, but they will also be mandated to report on their own planet warming pollution that is material to their business. This is a necessary and prudent step towards transparent, fair, and efficient financial markets.”

The SEC rule is a critical step toward providing Americans with comprehensive and rigorous information about how climate change poses a risk to communities and the economy.

“This rule is an important first step and SEEC will continue to support our agencies that are working hard to ensure the American people are protected from the impacts of climate change.”