March 22, 2022
I believe this would be a crucial step forward for holding companies accountable for climate change.
When I talk to people about going more eco friendly, a big argument against it is that it's not worth it to them because it's the big corporations that need to change to make a difference. A huge population agrees with this opinion, so if the big corporations make the step towards fighting climate change (And proving the outcome), then the people will too.
By approving this rule, it will hold companies accountable for providing authentic information about how they are impacting the environment and climate change. This will help prevent greenwashing and will build stronger trust between the company stakeholders.
Also, I have seen opinion articles opposed to this rule and saying that the SEC should focus on finance and someone even said that the SEC needs to \"stay in their lane.\" This is not a good argument because for three reasons:
1. The SEC must hold public companies accountable to be honest and ethical. While this is focused on the financial part of business (Accounting, audit of financial statements and internal controls), the number one goal is to ensure that investors are investing in companies that aren't lying to them, whether it's via numbers or promises of corporate responsibility.
2. Now that Climate Change is a huge part of corporate responsibility, many companies are making claims about it as part of their marketing. How can investors and stakeholders in general be sure that they aren't just saying that they're going eco friendly? How do we know the results? This rule will hold them accountable. I am one of those people who want to invest in companies who support the fight against climate change, but I want to feel positive that I'm not being lied to.
3. Many big corporations have their own brands that offer sustainable products, but those products may appear to be ecofriendly but truly aren't. Whether it's the product sold to the customers or the production process that isn't ecofriendly, the company needs to prove that they are providing profiting on honest products and not saying they are \"Ecofriendly.\" It is crucial that we fight against greenwashing and make a difference in the world.
This rule needs to be approved. Without it, the big corporations won't be held accountable for honest reports on sustainability and ultimately will allow companies to continue lying and being unethical. For the sake of our world and the future, please approve this and put the world first instead of profit. Honest companies who truly care about the world will succeed.