Mar. 31, 2022
Dear Chair Gary Gensler, As our government's chief financial regulator, your agency ensures public companies respond to investors’ need for information that helps them protect their investments. Your new rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors (S7-10-22) is a key step in that direction. As a chemist, I am very concerned about the effect of heat-trapping emissions on many areas of human society—including to our financial systems. I urge the Commission to adopt a strong, comprehensive rule without delay. The final rule should mandate and standardize disclosure by publicly listed companies of all heat-trapping emissions associated with corporate operations, products, and supply chains. Note that Scope 3 emissions can account for 80-90 percent of companies’ total emissions in some sectors. Swift adoption, implementation, and enforcement of a strong rule will help meet the demands of international markets and ensure investors adequate data to make informed decisions. It will also hold corporations accountable for their impact on the climate and will demonstrate their progress in achieving climate-related goals and targets. Please protect our financial system from climate-induced risk by passing a strong, science-based climate disclosure rule as soon as possible. Sincerely, Ms. Grace Hall Somerville, MA 02144