Twelve AGs Submitted a Letter Urging SEC to Require U.S. Companies to Disclose Financial Risk from Climate Change

JUNE 14, 2021

California Attorney General Rob Bonta led a coalition of 12 attorneys general in submitting a comment letter in response to a request for public input on potential Securities and Exchange Commission (SEC) regulation of climate change disclosures. The coalition urged the SEC to require both private and public companies to assess and disclose climate change-related risks affecting their businesses to investors. In the letter the AGs stated that current disclosure requirements were insufficient to provide transparency on climate-related risk, and the current requirements exposed the U.S. and global financial systems to uncertainty, exposing many Americans whose savings are investment-based to climate risk.