Ceres Denounces Proposal to Rescind Corporate Climate Disclosure Rule

A proposal announced today to rescind the federal corporate climate disclosure rule will “take us back, not forward, in our efforts to bring more accountability and transparency to the marketplace,” said Steven M. Rothstein, Chief Program Officer at Ceres.  

Rothstein added, 

“The SEC rule was put in place to support American investors, but this proposal to rescind it will leave them in the dark. For two decades, investors have called for clear, consistent, and decision-useful information on companies’ exposure to risks and opportunities, including climate-related data. These physical risks are real, growing, financial, and material for businesses and economies – and that’s why there has been an urgency from investors and companies to adopt and now protect this rule. A Ceres analysis of public comment letters from hundreds of investors who collectively own or manage more than $50 trillion in assets showed that they supported a federal climate disclosure rule, arguing that they needed this information for their investment and voting decisions. Corporate support was prompted in part by recognition that the current state of disclosure consisted of a range of confusing and overlapping standards and guidelines both within and outside the United States. The federal rule, adopted in 2024, finally provided some clarity and certainty for businesses.  We urge the SEC to reconsider its proposal to rescind this rule as the cost of inaction on climate financial risks far outweighs the cost of action.”  

 Ceres will submit comments to the SEC opposing this proposal as part of the 60-day public comment period and urges investors and other stakeholders to do the same.