Washington D.C. — In response to the release of the SEC’s Climate Risk Disclosure rule, the League of Conservation Voters (LCV) released the following statement:

“Investors have been clear: they need mandatory and standardized climate-related financial risk disclosures to determine which companies are taking the financial risks of the climate crisis seriously and which are not,” said LCV Senior Government Affairs Advocate David Shadburn. “LCV commends the SEC for taking this critical first step to increase transparency and protect investors in the face of the climate crisis. At the same time, we are disappointed that corporate special interest groups like the Chamber of Commerce, who represent the very large, public companies whose climate-related financial risk disclosures are most needed, worked to significantly weaken the previously proposed comprehensive greenhouse gas emissions reporting that received overwhelming support during the public comment period. SEC must do more to ensure these companies provide investors a full accounting of their climate financial risks, including supply chain emissions (also known as Scope 3), which often make up the majority of publicly traded companies’ emissions.”

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