New York State Comptroller Thomas P. DiNapoli applauded the Securities and Exchange Commission (SEC) for its recent adoption of the Climate Change Disclosure Rule on March 6, 2024. DiNapoli highlighted this development as a significant win for investors focused on addressing the investment risks posed by climate change, emphasizing the enhanced ability to evaluate risks and opportunities towards achieving a net-zero economy by 2040.
DiNapoli, who has advocated for nearly 15 years for mandatory climate risk disclosures, praised the SEC’s move for providing investors with consistent and reliable information. This transparency, he noted, is crucial for making informed decisions on proxy voting and company engagements, underscoring the importance of further disclosures, such as ‘scope 3 emissions,’ to improve climate risk management.
Acknowledging SEC Chairman Gensler and the commission’s efforts, DiNapoli reaffirmed his commitment to climate risk mitigation and the pursuit of sustainable investment opportunities. Through initiatives like the comprehensive Climate Action Plan, DiNapoli continues to lead in integrating climate considerations into the management of New York State’s Common Retirement Fund.
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