The planet is literally on fire, and 'protecting the economy' is the classic excuse to dodge urgently needed climate action/environmental reform. But in a twist of irony, climate change is bad for business, too. The U.S. Securities & Exchange Commission (SEC) is proposing a new rule that would require companies to disclose how global warming affects their business, a crucial move for supporters of federal climate action. Among the many benefits of this type of transparency is the opportunity for investors to then choose the most sustainable, stable businesses to get behind. If we're going to keep invoking companies' profits as a reason to not act on the climate, it's time we confront the way climate chaos is detrimental for the private sector, too.
Sign now to tell the SEC that documenting climate change is important and that you support this new rule!
The erratic and extreme weather patterns produced by global climate change -- from flooding, to droughts, to hurricanes -- all affect a company's bottom line. Supply chain issues, like those which have famously contributed to global shortages during COVID, are more likely as the planet gets hotter, and companies also face rising insurance costs and labor challenges. Climate change affects all realms of life – including public health, agriculture, and infrastructure, to name a few- - and companies depend on these systems to keep their workers fed and healthy, as well as to ship their goods and services.
As an added bonus, the new rules would also require companies to report on their own emissions data, another crucial way to fight climate change and keep consumers informed on which corporations actually care about the health of the planet. Companies would also be required to report their 'scope 3' emissions, which are emissions generated by suppliers and consumers. This part is crucial, because most companies only include their own production within their general environmental impact assessments, and say nothing about the actual impacts of their products on the environment once they are purchased.The comment period is currently open for members of the public to vocalize their support for the new rule. Sign the petition now to tell the SEC: monitoring climate impacts is vital! We support the rule change!