Regulatory Outlook | 09.15.21
Gensler Defends ESG Disclosures Against Republican Backlash
SEC Chair Gary Gensler on Tuesday defended efforts to expand environmental, social, and governance (ESG) disclosures against charges from Republican lawmakers that the agency is pursuing a social policy agenda. In an appearance before the Senate Banking Committee, Gensler said that the SEC is reacting to the soaring popularity of sustainable investing and investor demand for more ESG information. “What I’ve been trying to do is say, if investors want information about climate risk, and it looks like tens of trillions of dollars of assets under management are asking, we at the SEC have a role to put [a proposal] out to notice and comment, do the economic analysis, and really see what investors are saying,” Gensler said. “It’s really in that narrow set of chalk lines that we’re operating.”
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