Tell the Whole Truth about the Climate Costs of Business
Today, we all want to know what we’re buying. What’s in our food. Who made our clothes. And – perhaps most important – what the true climate impact is of the businesses we support.
Which is why the new rule from the US Securities and Exchange Commission (SEC) is so critical. The rule would require companies to disclose key facts of their climate impacts and goals – including their greenhouse gas emissions and climate targets.
It’s a great start to ensuring that investors know the real climate costs of the businesses they invest in – and can make truly informed decisions about the companies and future they’re buying into.
But the proposed rule doesn’t go far enough.
While the rule will help to improve and standardize climate-related disclosures, it allows companies to choose whether they disclose their entire carbon footprint – including determining the significance of Scope 3 emissions, or emissions from a company’s supply chain – effectively allowing businesses to omit some (or most) of their emissions from their disclosures.
The SEC is open to comments until November 1 and we need your voice. Take action and tell the SEC to strengthen this rule to make companies tell the whole truth of the climate costs of their business. Anything less just isn’t honest.