{"id":5888,"date":"2021-07-29T13:24:05","date_gmt":"2021-07-29T13:24:05","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=5888"},"modified":"2021-07-29T13:24:09","modified_gmt":"2021-07-29T13:24:09","slug":"sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/","title":{"rendered":"SEC Chair Eyes Mandatory Climate Disclosure Rules Proposal By End of Year"},"content":{"rendered":"\n<p>The U.S. Securities and Exchange Commission\u2019s (SEC) Gary Gensler is aiming to have proposed rules in place for mandatory climate risk reporting by companies by the end of this year, according to a speech by the SEC Chair on Wednesday.<\/p>\n\n\n\n<p>Speaking at the Principles for Responsible Investment\u2019s \u201cClimate and Global Financial Markets\u201d webinar, Gensler said that mandatory rules would bring greater clarity to climate risk disclosures, with benefits including consistency and comparability of the information provided, and ensuring that investors are equipped with \u201cdecision-useful\u201d levels of qualitative and quantitative data.<\/p>\n\n\n\n<p>Gensler said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201cCompanies and investors alike would benefit from clear rules of the road. I believe the SEC should step in when there\u2019s this level of demand for information relevant to investors\u2019 decisions.<\/p><p>\u201cThus, I have asked SEC staff to develop a mandatory climate risk disclosure rule proposal for the Commission\u2019s consideration by the end of the year.\u201d<\/p><\/blockquote>\n\n\n\n<p>The SEC Chairs remarks come as the commission undergoes a re-examination of the role of sustainability disclosure in company reporting. In February, SEC Acting Chair&nbsp;<a href=\"https:\/\/www.esgtoday.com\/sec-announces-review-of-climate-disclosures\/\">Allison Herren Lee announced<\/a>&nbsp;a review of the commission\u2019s guidance for public company obligations for disclosures related to climate change risk, citing increased demand by investors for material, comprehensive and consistent information, including the extent to which such reporting should be mandatory for companies.<\/p>\n\n\n\n<p>Gensler also cited investor demand as the key driver of the move towards revamped reporting rules, saying, \u201cinvestors increasingly want to understand the climate risks of the companies whose stock they own or might buy.\u201d According to the SEC Chair, the SEC received more than 550 responses to Herren Lee\u2019s review, with roughly 75% supporting mandatory climate disclosure.<\/p>\n\n\n\n<p>Gensler said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>\u201cThe basic bargain is this: investors get to decide what risks they wish to take. Companies that are raising money from the public have an obligation to share information with investors on a regular basis.\u201d<\/p><\/blockquote>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-5888\" data-postid=\"5888\" class=\"themify_builder_content themify_builder_content-5888 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n<span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission\u2019s (SEC) Gary Gensler is aiming to have proposed rules in place for mandatory climate risk reporting by companies by the end of this year, according to a speech by the SEC Chair on Wednesday. Speaking at the Principles for Responsible Investment\u2019s \u201cClimate and Global Financial Markets\u201d webinar, Gensler said [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[37,31,17],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Chair Eyes Mandatory Climate Disclosure Rules Proposal By End of Year - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Chair Eyes Mandatory Climate Disclosure Rules Proposal By End of Year - ESG Today\" \/>\n<meta property=\"og:description\" content=\"The U.S. Securities and Exchange Commission\u2019s (SEC) Gary Gensler is aiming to have proposed rules in place for mandatory climate risk reporting by companies by the end of this year, according to a speech by the SEC Chair on Wednesday. Speaking at the Principles for Responsible Investment\u2019s \u201cClimate and Global Financial Markets\u201d webinar, Gensler said [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ESGToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-29T13:24:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-29T13:24:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2021\/07\/SEC3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1065\" \/>\n\t<meta property=\"og:image:height\" content=\"596\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark Segal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:site\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark Segal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\"},\"author\":{\"name\":\"Mark Segal\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\"},\"headline\":\"SEC Chair Eyes Mandatory Climate Disclosure Rules Proposal By End of Year\",\"datePublished\":\"2021-07-29T13:24:05+00:00\",\"dateModified\":\"2021-07-29T13:24:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\"},\"wordCount\":331,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"articleSection\":[\"ESG Reporting\",\"Government\",\"Regulators\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\",\"url\":\"https:\/\/www.esgtoday.com\/sec-chair-eyes-mandatory-climate-disclosure-rules-proposal-by-end-of-year\/\",\"name\":\"SEC Chair Eyes Mandatory Climate Disclosure Rules Proposal By End of Year - 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Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm\u2019s head of U.S. equities. While at DCM, Mark was part of the firm\u2019s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. 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