Apr. 18, 2022
Hi, This proposed regulation is past due, and though the public at large may not have an idea of it's importance, I think it parallels the overwhelming culture in this country and globally to evolve to a world where nature and our impact to it is prioritized and embedded into systems including the financial system. Historically, businesses, capital markets, economies have been the catalyst of wealth and prosperity in western societies and beyond. Unfortunately, due to beliefs that have been in existence, at least, since the agricultural revolution, we have taken for granted the value nature and its offerings have on human society. Humanity finds itself at a crossroads. Sadly, our insatiable appetite for economic power and well being blinds us to the inevitable, by many expert accounts. From the scientific perspective to the indigenous one. There is no doubt the special interest that influence the way our laws are written will object to this regulation including costs and how regulation thwarts the progress of innovation. I suspect they will use their economic advantage to win favor to block or saturate the effectiveness of the proposed regulation. However, this proposal, which I support will become cemented in the cannons of law/regulation has the potential to go beyond protecting investors but protecting all the progress of humans, and the complexity of nature (ie climate balance). Additionally, the climate related financial disclosures, will give the US, an opportunity to re-establish it's leadership and influence financially, socially, and beyond, charting a course to continued well being and progress at the global and national stage. The economy is changing and new dynamics, markets are developing. Regions like Europe and Asia are realizing the opportunities, and gradually, we are falling behind because we have stopped embracing change. Ironically, the successful businesses, economies, cities, etc. are those that accept change. Transparency is also the mandate of securities regulations, and this marks consistency with said mandate. As an investor that believes that free markets, innovation, ambition, and capital can play a critical role in facing our present challenges, streamlining material risks related to climate and eventually, biodiversity, animal rights, from the operating impacts of public traded companies, financial institutions, and other players will avoid structural adverse effects that can be worst than the depression of the 30s. Lastly, these measures shall give investors the tool to hold companies from misleading and/or exploiting the good faith of investors and their objectives. Greenwashing via ESG ratings, and unsubstantiated sustainability reports have no place in the integrity of the world's foremost financial capital market, which all have tried to emulate and recognize as a driver of human progress. Please ratify the proposed regulation. Respectfully, Gabriel Requena, investor/financial professional P.S. Please do consider the costs as small firms are always held to the same standards as the goliaths. Sent with ProtonMail secure email.