The Church Investment Group has released a letter to Gary Gensler, Chairman of the Securities and Exchange Commission, regarding investor interest in the financial impact of climate change and the need for climate-related financial disclosure.
CIG believes that the risks associated with climate change and the necessary related climate transitions are material and significant. Better disclosure will enable investors to be able to properly understand these risks and their impact on their investment holdings in companies and other securities.
CIG urges the Commission to consider comprehensive greenhouse gas (GHG) emissions disclosure and management and governance alignment disclosure. While the TCFD [Task Force on Climate-Related Financial Disclosures] framework provides a high-level framework, it is also important to develop industry specific metrics for transition risks and opportunities. Without this information, it is difficult for investors to perform their fiduciary duty to assess the risks and opportunities associated with climate change and transition.
CIG’s letter to the SEC Chairman may be downloaded below.