Statement

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SEC’s Disclosure Agenda Will Drive Transparency and Protect Investors

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In anticipation of SEC Chair Gensler’s appearance before the House Financial Services Committee this week, the U.S. Impact Investing Alliance reiterates our support for the agency’s investor-driven transparency and disclosure agenda.

Access to clear, comparable information on environmental, social and governance (ESG) factors empowers investors and paves the way for more transparency across the capital markets. This is why the Alliance supports urgent SEC action on corporate and asset manager disclosure requirements around financially relevant factors like climate risks and workforce diversity.

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Historic Funding Disbursed for Community Lenders

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The U.S. Impact Investing Alliance has long called for robust support for the community lenders that serve as the backbone of the community investing ecosystem. Especially in light of the COVID-19 crisis, these community development financial institutions (CDFI) and minority depository institutions (MDI) were critical in flowing capital to the small business owners and community members who needed it the most.

This week, we celebrate the Treasury Department’s announcement that the CDFI Fund has awarded over $1.73 billion in grants to 603 CDFIs through the Equitable Recovery Program (ERP).

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U.S. Impact Investing Alliance Applauds President Biden’s Actions to Protect American Workers’ Financial Security

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The U.S. Impact Investing Alliance is encouraged by the Biden-Harris Administration's continued support for the financial security of American workers. Today, President Biden vetoed a politically motivated attempt to reverse a Department of Labor (DOL) rule that allows the consideration of financially relevant environmental, social and governance (ESG) factors in certain retirement savings plans.

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U.S. Impact Investing Alliance Testifies Before House Subcommittee on Corporate Human Capital Management Disclosures

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Earlier today, Fran Seegull, President of the U.S. Impact Investing Alliance, testified at a House Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets hearing on E, S, G and W: Examining Private Sector Disclosure of Workforce Management, Investment, and Diversity Data.

Seegull’s testimony emphasized the need for the Securities and Exchange Commission (SEC) to pursue a rulemaking on standardized corporate human capital management disclosures, which are critical factors for investor decision-making.

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U.S. Impact Investing Alliance Applauds New Rule from Department of Labor that will Protect the Economic Security of American Workers

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The U.S. Impact Investing Alliance celebrates a clear win for American workers today with the release of a final rulemaking by the Department of Labor (DOL), which ensures their retirement savings will be invested in line with prudent risk management practices.

The rule thoughtfully modernizes expectations for fiduciaries under the Employee Retirement Income Security Act (ERISA) to consider financially material environmental, social and governance (ESG) factors including climate change to protect retirement savers and promote a resilient economy.

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U.S. Impact Investing Alliance Comments on the Midterm Elections and What it Means for Advancing an Equitable Economic Growth Agenda

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Even as ballots are still being counted in Congressional, state and local elections, it is clear that voters want an economy defined by equitable opportunities for themselves, their families and their communities. Though the exact policy prescriptions are subject to debate, Americans are united around attaining this shared prosperity.

The U.S. Impact Investing Alliance has long held the belief that the principles of impact investing are nonpartisan and capable of bringing together allies across the political spectrum to champion the flow of private capital for public good.

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Celebrating Government-Led Commitments to Equity and Community Investing Priorities

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This week, leaders from the public, private, nonprofit and philanthropic sectors convened at the Treasury Department’s Freedman’s Bank Forum to consider their joint role in addressing economic disparities and promoting economic opportunities in communities of color. The U.S. Impact Investing Alliance congratulates the newly announced members of Treasury’s Advisory Committee on Racial Equity, representing community development finance experts, philanthropies, investment professionals and more.

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U.S. Impact Investing Alliance Supports Latest Regulatory Win for Investor Transparency

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The U.S. Impact Investing Alliance expressed support for the latest iteration of the U.S. Securities and Exchange Commission’s (SEC) disclosure agenda to improve transparency for investors. In addition to expressing broad support for the SEC’s objectives to combat greenwashing and equip investors with decision-useful information, the Alliance’s comments focused on ways the Commission could expand the scope and refine certain provisions in the final rule.

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U.S. Impact Investing Alliance Applauds Historic Climate Action by Congress

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Earlier this week, the White House and Congress made strides toward achieving a number of climate, health care, and tax priorities by passing the Inflation Reduction Act in the Senate. The U.S. Impact Investing Alliance is particularly encouraged to see the inclusion of a $27 billion "green bank" facility to help finance clean energy projects, within the $370 billion dedicated to climate programs.

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U.S. Impact Investing Alliance & Peers Call for a Strengthened and Race-Conscious Community Reinvestment Act

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Today, the U.S. Impact Investing Alliance joined many of our peers on the Coalition on Inclusive Economic in supporting the most meaningful update to a foundational community investing policy in nearly 30 years. The Alliance and 15 organizations representing businesses, investors, nonprofits and community lenders submitted comments to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) in response to their joint rulemaking to reform the Community Reinvestment Act (CRA).

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U.S. Impact Investing Alliance Signals Support for ISSB Proposals that Lay the Groundwork for Global Convergence on Sustainability Standards

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The U.S. Impact Investing Alliance is encouraged by the emerging global standards on sustainability disclosures, and we believe that the International Sustainability Standards Board’s (ISSB) latest actions lay the groundwork for further progress over time. Specifically, the Alliance was pleased to write in support of the ISSB’s exposure drafts on general sustainability and climate-related disclosures.

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The Field Calls on the SEC to Prioritize Human Capital Management Disclosures

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In partnership with B Lab and nearly 50 investor, business and philanthropic organizations, the U.S. Impact Investing Alliance wrote to SEC Chair Gensler expressing support for the long-awaited rulemaking on corporate human capital management disclosures.

Related: Read more from our President, Fran Seegull, on how impact investors can set the record straight on the state of ESG investing and the policies necessary to promote a fair, efficient and sustainable investment ecosystem.

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U.S. Impact Investing Alliance Applauds Banking Regulator’s Guidance on Climate-Related Risks

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The U.S. Impact Investing Alliance wrote to the Federal Deposit Insurance Corporation (FDIC) today in support of their draft guidance for large banks managing climate-related financial risks.

Investors and the broader public are relying on financial institutions to account for the significant, systemic risks posed by climate change in a prudent manner.

The FDIC’s guidance helps provide clarity to banks on how to do so and is an important element of a whole-of-government approach for ensuring a future economy that is resilient and strong.

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Impact Investors Support SEC’s Leadership on Climate Transparency

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Earlier today, the U.S. Impact Investing Alliance submitted comments in support of the U.S. Securities and Exchange Commission’s (SEC) proposed rule to enhance and standardize climate-related corporate disclosures. This represents a historic moment for impact transparency, as investors have long been calling for accessibility to clear, comparable data related to environmental, social and governance (ESG) factors. The Alliance’s comments communicate broad support for the proposal, which is squarely in line with the SEC’s mandate to protect investors, maintain fair and efficient markets and facilitate capital formation.

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Regulatory Progress Toward Transparency in ESG Investing

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Earlier today, the U.S. Securities and Exchange Commission (SEC) proposed two sets of rules that will help shed light on the practices of investment funds and advisors that incorporate environmental, social and governance (ESG) investment factors into their strategies.

The U.S. Impact Investing Alliance is encouraged by the SEC's latest actions to help equip investors with clear, comparable and reliable information about the true nature of their investments and improve overall transparency and accountability across the capital markets.

The Alliance looks forward to reviewing the proposals in depth and providing comments regarding specific provisions and potential areas for strengthening the final rule.

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Department of Labor Seeks to Protect Retirement Savers from Climate-Related Financial Risks

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The U.S. Impact Investing Alliance was pleased to respond today to a Request for Information on how the Department of Labor can protect retirement savers from climate-related financial risks. Alongside specific recommendations for further action and research by the Department, the Alliance is calling for a whole-of-government approach to combatting the significant, systemic risks climate change poses to the economy. Read the Alliance’s full comments here.

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Banking Regulators Set out to Strengthen Foundational Community Investing Policy

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Earlier today, the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and the Office of the Comptroller of the Currency (OCC) proposed significant reforms to the Community Reinvestment Act (CRA), an anti-redlining banking policy with roots tracing back to the civil rights movement. While the CRA has been catalytic, the racial wealth gap and access to capital divides persist, and the U.S. Impact Investing Alliance is supportive of the regulators’ latest efforts to modernize and strengthen the policy’s underlying framework.

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Impact Transparency on Climate Risks Is Good for Business, Investors and the Economy as a Whole

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A group of 60 impact-oriented business and investor organizations raises our collective and enthusiastic support for the SEC’s proposal to require U.S.-listed companies to disclose their exposure to climate risks, following longstanding calls from investors and other stakeholders. See our full comments to the SEC and keep reading to hear from the letter’s signatories directly.

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U.S. Impact Investing Alliance Celebrates Historic Step Forward on Corporate Climate Disclosure and Impact Transparency

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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.

 

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