Investors, including several who run environmentally focused funds, welcomed the U.S. government's proposed new rule on corporate disclosure of climate-related risks and emissions, saying it would standardize reports that now are voluntary and vary widely in quality and breadth.
The investors said the U.S. Securities and Exchange Commission's draft regulation, if finalized, would make it easier for money managers to judge how different companies and industries are handling the challenges and opportunities of a warming planet.
Dan Abbasi, who runs a $200 million environmentally focused investment strategy for Douglass Winthrop Advisors in New York, said the proposed rules also could help fund managers select companies that stand to benefit from a transition to a lower-carbon economy. Gensler cited a report that found 65% of Russell 1000 companies published "sustainability reports" in 2019. But the report, by the Governance & Accountability Institute, found only around half of companies in some sectors like communications and finance published those reports, which companies organized using a range of frameworks.
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