Barrons | Fri, Aug 6, 2021
by Bianca Taylor and Jennifer R. Marlon
Last week Gary Gensler, the chair of the Securities and Exchange Commission, made what seemed like an uncontroversial statement: “I think we can bring greater clarity to climate risk disclosures.” The SEC, he said, will begin to consider requiring public companies to tell their investors how climate change could threaten their business. That’s an important step, because for as much as we know about how the climate crisis is changing our lives, we’re only starting to get our heads around what it will truly cost you and me.
The oil and gas industry is already pushing back. Industry groups are stepping up lobbying to avoid disclosing their emissions, according to the Financial Times. These short-sighted attempts will unfortunately hurt our economy.