Commercial, GHG Emissions - June 16, 2021
Alphabet, Facebook, Amazon and Others Urge SEC to Require Climate Disclosures
Alphabet, Amazon, Autodesk, eBay, Facebook, Intel and Salesforce issued a joint letter to the Securities and Exchange Commission signaling their support for a requirement that businesses regularly issue climate change disclosures.
The letter was issued in response to a request for public input by Acting Chair Allison Herren Lee from participants in the capital market. The group expressed their support for regular reporting on climate-related matters in addition to taking individual steps to address their respective carbon footprints.
Together, the seven companies represent the procurement of 21 GW of clean energy and each has a target to purchase 100% renewable energy.
“We recognize that climate change is an urgent global challenge that demands collective action,” the group wrote in the letter. “We are committed to taking bold steps within our operations, supply chain, products, technology and public engagement. We believe that climate disclosures are critical to ensure that companies follow through on stated climate commitments and to track collective progress towards addressing global warming and building a prosperous, resilient zero-carbon economy.”
The key principles for SEC climate disclosure initiatives that the group expressed support for included creating a principles-based framework, including relevant emissions information to reflect global standards, leveraging existing frameworks and standards and allowing for new climate-related disclosures to be reported outside of annual, quarterly and other documents filed with the SEC.
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