The Ceres Disclose What Matters campaign drives the call from investors to companies to disclose material sustainability issues, such as climate change risks, in their financial filings. Robust disclosure provides investors with the information they need to make better short and long-term investment decisions and helps companies manage significant financial risks and opportunities associated with wide-ranging sustainability challenges.
In a resource-constrained world that is rapidly transitioning to clean energy and other low-carbon technologies, improving the quantity and quality of corporate disclosures on these issues is needed now more than ever.
Moreover, such disclosure must occur in financial filings so data is consistently reported by all companies in a way that makes the financial risks and impacts of sustainability issues clear.
Our ongoing vision for Disclose What Matters is to hold companies accountable to provide robust disclosures that are:
- Consistent across all disclosure vehicles, including sustainability reports, financial filings and other reporting forums;
- Credible and comparable, and include both quantitative and qualitative information;
- Informed by a long-term multi-stakeholder perspective;
- Useful to investors to inform investment decision-making and voting decisions.
While the Ceres Disclose What Matters campaign is aimed primarily at U.S. financial filings, the initiative also seeks to to achieve globally consistent reporting practices. A working group of the Ceres Investor Network on Climate Risk and Sustainability, known as the Investor Initiative for Sustainable Exchanges (IISE), encourages stock exchanges worldwide to set minimum requirements for sustainability reporting by all listed companies.
Ceres also encourages investors, companies and governments to support the work of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), which provides recommendations to advance climate risk disclosure worldwide.
"Voluntary disclosure is swiss cheese - appetizing and full of holes. Investors need robust, mandatory reporting to capture climate change risk across their portfolios.”
- Anne Simpson, Investment Director of Sustainability, CalPERS