Retailers Encourage Thoughtful Climate Disclosure Rules
- By [ Kathleen McGuigan , Erin Hiatt ]
- Washington, DC
Today, the Securities and Exchange Commission (SEC) voted to approve a notice of proposed rulemaking on climate disclosures.
Retail Industry Leaders Association (RILA) and its members support the SEC’s goal of providing investors with credible climate risk-related information and the association has been actively engaged with the SEC on this issue and filed comments last June on the SEC’s Climate Disclosure RFI.
“Climate change is a bigger threat than any one individual, company, industry, or government can address on its own and can only be abated through the collective efforts of all parties. RILA and its members share the SEC’s concern about climate change and its potential impact on the U.S and global economies and our communities,” said Erin Hiatt, RILA vice president, corporate, social responsibility (CSR).
RILA is in the process of reviewing the specifics of the proposed rule and will be working with retail members through RILA’s SEC Climate Disclosure Working Group to provide the SEC with recommendations for the final rule.
“RILA looks forward to continuing its engagement with the SEC to make sure that any final climate disclosure rules provide accurate and useful information for investors in regard to climate risk,” said Kathleen McGuigan, RILA executive vice president and deputy general counsel. “This is a complex, scientific and fluid topic. RILA and its members are committed to helping the SEC finalize thoughtful, deliberate rules that reflect the urgency of addressing climate-related risks and are reflective of the interests and practical limitations of all stakeholders.”
Earlier this year, RILA released a Climate Action Blueprint to provide emissions reduction guidance to retailers, regardless of where the company is on its decarbonization journey. The Blueprint was created with Schneider Electric and reviewed by a Steering Committee of RILA members and the World Wildlife Fund.
RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.
RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.
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