SIFMA Statement On SEC ESG Climate Disclosure Proposal

SIFMA released the following statement from president and CEO Kenneth E. Bentsen, Jr., on the Securities and Exchange Commission (SEC) proposal released today that is aimed at enhancing and standardizing climate-related disclosures for investors:

“We are reviewing the voluminous proposal now and look forward to providing comments, though we have initial concerns around the Scope 3 and limited safe harbor provisions as well as the hastened implementation timelines. We are supportive of material principles-based climate disclosures that deliver a balance of tailored disclosures and comparable quantitative information across registrants, while minimizing registrant compliance costs and ensuring a flexible disclosure regime that can meet evolving circumstances. SIFMA is committed to working with the SEC on disclosure of consistent, comparable, and accurate information that is useful to investors making investment decisions.”