Today marks a major milestone for the impact investing community and its longstanding efforts to manifest a more equitable, inclusive and sustainable economy. The U.S. Impact Investing Alliance applauds the SEC for their leadership in advancing new climate reporting requirements for U.S.-listed companies, which represents one of the boldest steps a U.S. regulator has taken toward accounting for the risks of climate change to our economy in a transparent and meaningful way.

Investors have long called for clear, comparable data related to material environmental, social and governance (ESG) issues - calls which have only grown more urgent in response to mounting and intersecting global challenges.

More work remains to ensure investors and other financial market participants are equipped with the information necessary to understand and account for climate risks and impacts. This rulemaking sets regulators on the necessary path to realign regulations in pursuit of a more transparent and accountable economic system for investors and all stakeholders.

In our comment letter, we plan to address the importance of comprehensive ESG disclosure requirements, assurance, private markets transparency and alignment with other climate disclosure standards globally. We encourage our peers in the impact investing community to share public comments to the SEC on how companies can better report on and address climate risks to ensure a strong final rule.