Apr. 29, 2022
My name is Sam M, I am a Retail Investor and below is my comment for File No: S7-10-22 (A copy of the comment is also attached as a .txt file):
I am a concerned retail investor and I hope my comment displays my approval for this rule, rules that increase transparency and rules that assist in the fight against climate change in general.
I urge the SEC to not be concerned by registrants or those affiliated with them that would be effected by this proposed rule complaining about the cost or difficulty of the reporting;
Firstly the cost of reporting would not be noticeable to companies that are making seven figure net incomes or more.
Secondly page 45 states that smaller reporting companies ("SRC") would be exempt from Scope 3 emissions disclosure. This should show that the SEC is making this rule manageable for all of its registrants.
It is not necessary to look far to find evidence of the positive economic impact from climate action [1]. It is short-sighted to look at the cost of implementing positive changes such as this proposed rule. In the long term (decades) investors should make money by having knowledge of companies climate impact, thus showing their ability or inability to adapt as the world trends against climate change.
[1] https://www.wri.org/insights/10-charts-show-economic-benefits-us-climate-action
I would like to thank the SEC for proposing a rule that allows retail investors to become more informed about the companies they invest in.
Thank you for taking the time to read my comment and thank you for your work!
Sam M