New Bill Aims to Compel Companies to Disclose Climate Risks to SEC

A bill that would require public companies to disclose the risks posed to their business by climate change passed a crucial committee vote in the House on Wednesday. 

The House Financial Services Committee passed the Climate Risk Disclosure Act of 2019, which was introduced by Illinois Rep. Sean Casten in 2018. The bill would require the Securities and Exchange Commission (SEC) to develop and implement guidelines for companies on disclosing climate risks. The SEC would be required to make the information available to the public on its website. 

“Climate change is a risk to the stability of the global financial system,” Casten said. “This bill presents a market-based solution to understand the impact of a changing climate on companies and provide investors, lenders, and insurers with better information.” Read Full Article - Climate Liability News, April 17, 2019