Sarasin submission to SEC on proposed rules for better climate related financial disclosures.
On March 21st, the US Securities and Exchange Commission proposed detailed rules for climate-related disclosures by companies in US markets. We applaud the SEC’s leadership on this matter. We particularly welcome the attention given to financial statement disclosures, which has been a topic that we have long sought greater visibility on for investors.
The failure of financial statements to properly reflect the real economic consequences of climate change and a move to a 1.5C pathway has increased uncertainty in the market, which threatens market efficiency and ultimately macro-economic stability. It is time to stop treating potentially irreversible and catastrophic consequences of climate change as non-financial. It is our hope that where the SEC leads, other regulators will follow.
Please see our submission to the SEC consultation here.