The vast majority of respondents to the US Securities and Exchange Commission’s (SEC) recent consultation on corporate ESG disclosures have backed the introduction of mandatory rules around climate, its Chair has revealed.
Speaking yesterday on a webinar hosted by the Principles for Responsible Investment (PRI), the SEC Chair, Gary Gensler, said that 75% of the 550 unique responses it received supported mandatory climate disclosures.
The securities regulator closed its consultation last month, attracting responses from companies, asset owners, asset managers, NGOs, consultants, academics and trade bodies.
Guidance on climate change was last issued by the SEC in 2010, under the then chair Mary Schapiro, who now heads up the Taskforce on Climate-related Financial Disclosures (TCFD) secretariat.
Gensler told listeners that the existing climate risk disclosure guidance for companies doesn’t give investors the “ability to compare company dis…