Ceres statement on SEC withdrawing its defense of climate risk disclosure rule

BOSTON — Today’s U.S. Securities and Exchange Commission’s decision to withdraw its defense of the climate risk disclosure rule is “unfortunate,” Ceres said in a statement. 

Steven M. Rothstein, Ceres’s Managing Director for the Ceres Accelerator for Sustainable Capital Markets, added: 

“The SEC was established to protect investors, and for more than 20 years, investors have clearly and overwhelmingly stated that they need more clear, consistent, and decision-useful information on companies’ exposure to climate-related financial risks. The ongoing acceleration of physical climate impacts, including the tragic fires in Los Angeles, has underscored the importance of transparency on these risks. Investors have clearly indicated they require better disclosure, with $50 trillion in assets under management broadly supportive of the rule adopted in March 2024. This is clearly a step backward in helping investors and other market participants have the information they need to manage climate-related financial risks.”  

About Ceres 

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. The Ceres Accelerator for Sustainable Capital Markets is a center within Ceres that aims to improve the practices and policies that govern capital markets by engaging federal and state regulators, financial institutions, investors, and corporate boards to act on climate risk as a systemic financial risk. For more information, visit ceres.org/accelerator.