Ceres welcomed today’s hearing before the U.S. Senate Banking Committee regarding the nomination for Gary Gensler of the Chair for the U.S. Securities and Exchange Commission (SEC). On climate disclosure, Gensler said: “it’s the investor community that gets to decide what is material to them, it’s not a government person like myself...in 2021, there’s tens of trillions of invested assets that are looking for more information on climate risk, and I think then the SEC has a role to play to bring some consistency and comparability to those guidelines.”
“Under Gary Gensler’s leadership, there is hope for the SEC to finally actualize its mandate to send a clear market signal across every sector of the economy that understanding and mitigating climate risk is crucial to the financial sustainability of our country,” said Mindy Lubber, CEO and president of the sustainability nonprofit organization Ceres. “We hope the Senate moves swiftly for confirmation.
Lubber continued, “Consistent and mandatory rules for climate change disclosure have been demanded by global investors, companies, regulators, policymakers and advocacy groups like Ceres. Mr. Gensler is the experienced leader we need now, as investors and the public look to the Biden administration to protect our economy from climate risks.”
Earlier this year, Ceres issued a statement of support following the announcement of Gensler’s nomination. You can read that full statement here.
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.