(Wednesday 7th March) Reacting to the Securities Exchange Commission's (SEC) new policy on standardised climate-related disclosures for investors, Bramwell Blower, Public Affairs Manager at ShareAction said:

“We’re disappointed that the SEC have scaled back their original proposal requiring US-listed companies to disclose their full climate impact.

“We’re particularly concerned that the SEC’s new rules will not include Scope 3 emissions – those produced by companies’ supply chains and during use of their products – which represent the majority of most companies’ carbon footprint.

“Greenhouse gas emissions pose very real material and financial risks to capital markets and companies’ value, as well as to people and the planet.

“It is therefore vital that investors have transparent access to comprehensive and consistent information regarding companies’ climate impacts and risks, to accurately assess their long-term value and make diligent decisions in light of the current climate emergency.”