Sustainable Investment Caucus Statement on SEC Climate Disclosure Rule Pause
WASHINGTON - U.S. Representatives Juan Vargas (CA-52) and Sean Casten (IL-06), co-chairs of the Congressional Sustainable Investment Caucus, released the following statement on the U.S. Securities and Exchange Commission’s (SEC) announcement that it will pause the implementation of its new climate disclosure rule pending the results of a legal challenge:
“It’s no secret that corporations believe climate change poses a risk to their businesses – that’s why they spend on average $500,000 a year to assess these risks. Investors should have access to this information. This rule is critical to increasing transparency for investors into the risks that climate change poses to publicly traded companies. We share the SEC’s belief that the rule is not only lawful and within the SEC’s power to order, but also that it is consistent with the demands of investors and market participants. We remain confident that the courts will come to the same conclusion.”
Last year, Reps. Vargas and Casten founded the Congressional Sustainable Investment Caucus to create a forum to protect Americans’ freedom to invest while increasing the information available to market participants about the risks posed by climate change.
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