January 18, 2024

Casten: Climate Change Poses a Major Risk to the Stability of the U.S. Financial System

Washington, D.C. (Thursday, January 18th)  - Today, U.S. Congressman Sean Casten (IL-06) highlighted the importance of the SEC's forthcoming final climate disclosure rules that will protect investors and increase market transparency during the Financial Services Subcommittee on Oversight & Investigations Hearing.

“Last year in the United States, climate-related weather disasters cost us $176 billion. Climate risk is not going away,” said Congressman Sean Casten. “This hearing is really about if we are going to protect investors’ rights to information or protect companies’ rights to withhold information from investors.”

To watch Congressman Casten’s full questioning, click here or on the image below.

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Rep. Casten is a longtime advocate for strong climate disclosures. He has previously introduced the Climate Risk Disclosure Act to safeguard the US economy from potential catastrophe driven by climate change by requiring public companies to disclose more information about their exposure to climate-related risks. Last August, Congressman Casten led 77 of his colleagues in a letter urging the SEC to finalize a disclosure rule that protects investors for the long term. 

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