FOR IMMEDIATE RELEASE
September 19, 2018
Today, Senators Elizabeth Warren (D-MA), Brian Schatz (D-HI), Edward J. Markey (D-MA), Cory Booker (D-NJ), Sheldon Whitehouse (D-RI), Jeff Merkley (D-OR), Kamala Harris (D-CA), and Kirsten Gillibrand (D-NY) introduced the Climate Risk Disclosure Act. The Bill would require companies to disclose climate-related risks in their annual reporting to the Securities and Exchange Commission. It would also require companies to appropriately assess climate-related risks and report the physical risks to their business posed by climate impacts. CIEL joined 32 organizations urging Senator Warren to introduce this bill.
Statement by Lisa Anne Hamilton, Climate & Energy Director at CIEL:
“We applaud Senator Warren’s leadership in bringing this bill forward. For far too long, many corporations have claimed climate risk was too remote and too abstract to quantify or disclose. After witnessing the devastation of Super Storm Sandy, Hurricanes Harvey, Maria, and now Florence, we now know that extreme weather events can cost billions. This bill marks an important step in motivating corporations to better measure, manage, and disclose their climate risk exposure while giving investors better tools for well-informed decision making.”