In a move that has been way too long in coming, the SEC last week voted 3-2 to approve guidelines to require companies to consider climate change effects, and laws/regulations/international accords designed to reduce climate change forcing when disclosing risks to investors.
This regulatory hurdle will provide additional information to investors, who petitioned the SEC in 2007, 2008 and 2009 stating they didn’t have the information they needed to make well-researched decisions. Read that again: investors asked the SEC to develop these guidelines so they could make better decisions. Not part-time investors from home; investors managing over $1 Trillion in assets. These folks are very serious about what they do. They have delivered a message to the extremists running today’s Republican Party: your refusal to deal with this issue honestly has hurt our ability to do our jobs effectively.
American businesses have been left unprepared for the damages inflicted by climate change that has already occurred, as well as the effects yet to be felt. Not only that, Republicans have forced American businesses to become less competitive than their international counterparts. How very patriotic of them.
This is one more necessary step on the path toward fleshing out the 21st century clean energy economy. Kudos to the three realists on the SEC commission who voted in favor of America.