Today, the Securities and Exchange Commission proposed rule changes that would require publicly traded companies to include more climate-related disclosures in their shareholder communications, including details about greenhouse gas emissions.
Following is a statement from Bob Keefe, executive director of the national, nonpartisan business group E2 and author of the forthcoming book “Climatenomics: Washington, Wall Street and the Economic Battle to Save Our Planet”:
“Climate change is battering our economy, and the economic risks to companies and their shareholders are real.
“Investors should be able to understand the risks they are taking as they make investment decisions. This is a welcome first step toward ensuring that financial markets can more accurately price risks from climate change and the supply chain vulnerabilities it creates across the economy.”
According to NOAA, the biggest climate-related weather disasters caused $145 billion in damage to our economy last year alone.
Globally, about 97 percent of businesses surveyed by Deloitte said their companies have already felt the negative impacts of climate change. More than 70 percent of voters surveyed by Data for Progress said that climate change poses a threat to the U.S. economy.
For more background and information, see E2’s “Cost of Climate Change” data here.
CONTACT: Alex Frank for E2, afrank@hastingsgroup.com or 703.276.3264
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E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.