In a public comment letter to the U.S. Securities and Exchange Commission (SEC), the U.S. Impact Investing Alliance shared support for proposed rules that will allow shareholders to engage corporations more effectively.
U.S. Impact Investing Alliance Supports Latest Regulatory Win for Investor Transparency
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.
U.S. Impact Investing Alliance Applauds Historic Climate Action by Congress
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.
U.S. Impact Investing Alliance & Peers Call for a Strengthened and Race-Conscious Community Reinvestment Act
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).
U.S. Impact Investing Alliance Signals Support for ISSB Proposals that Lay the Groundwork for Global Convergence on Sustainability Standards
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.
The Field Calls on the SEC to Prioritize Human Capital Management Disclosures
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.
U.S. Impact Investing Alliance Applauds Banking Regulator’s Guidance on Climate-Related Risks
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.
Impact Investors Support SEC’s Leadership on Climate Transparency
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.
Regulatory Progress Toward Transparency in ESG Investing
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.
Department of Labor Seeks to Protect Retirement Savers from Climate-Related Financial Risks
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.
Banking Regulators Set out to Strengthen Foundational Community Investing Policy
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.
Impact Transparency on Climate Risks Is Good for Business, Investors and the Economy as a Whole
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.
U.S. Impact Investing Alliance Celebrates Historic Step Forward on Corporate Climate Disclosure and Impact Transparency
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.
U.S. Impact Investing Alliance Statement on Russia’s Invasion of Ukraine
The U.S. Impact Investing Alliance stands in solidarity with the people of Ukraine and those calling for an end to Russia’s unprovoked invasion. We are heartened by the rapid response of individuals, governments, NGOs, businesses and investors around the world to hold Russia accountable and to provide aid to those who have been threatened or displaced. Much more will be required in the months and years to come as a humanitarian crisis unfolds in Europe and around the world.
U.S. Impact Investing Alliance Applauds SEC for Protecting Investors’ Proxy Voting Rights
Earlier today, the U.S. Impact Investing Alliance submitted comments to the Securities and Exchange Commission (SEC) in support of their proposed amendments to the rules governing proxy voting advice for shareholders.
The proposal would rescind a provision finalized in 2020 that undermined the independence of the proxy advisory process. In doing so, the SEC is rightly course correcting and ensuring that investors have access to timely, accurate and unbiased advice, a core element of their shareholder engagement rights.
U.S. Impact Investing Alliance Applauds Critical Step Toward an Improved CRA
The U.S. Impact Investing Alliance applauds the Office of the Comptroller of the Currency (OCC) for its issuance of a final rule yesterday rescinding the 2020 Community Reinvestment Act (CRA) rule from the previous administration. Alongside our peers, the Alliance has submitted several comments to the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the OCC expressing the need for the agencies to work collaboratively to uphold the CRA’s core purpose and to better address racial disparities in lending.
Coalition on Inclusive Economic Growth Members Write in Support of Department of Labor Affirmation of ESG Materiality Under ERISA
The U.S. Impact Investing Alliance, along with over 20 other members of the Coalition on Inclusive Economic Growth, comprised of businesses, investors and nonprofits, submitted a letter in support of the Department of Labor’s (DOL) proposed rules clarifying retirement and pension plan fiduciaries’ use of environmental, social and governance (ESG) factors under the Employee Retirement Income Security Act (ERISA).
Group of 30 Organizations Committed to Inclusive Economic Growth Write in Support of Strengthened CRA
The U.S. Impact Investing Alliance, along with 29 organizations, representing businesses, investors, community lenders and advocates, and aligned around the principles of inclusive economic growth, submitted a letter in support of the Office of the Comptroller of the Currency’s (OCC) proposal to rescind June 2020 changes to Community Reinvestment Act (CRA) regulations that would – if fully implemented – significantly weaken the policy. The signatories applauded the OCC’s decision to pursue a cohesive set of reforms that will modernize and strengthen the CRA alongside its peer regulating agencies - the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve.
U.S. Impact Investing Alliance Applauds Regulator’s Step Toward Modernized Fiduciary Duty
The U.S. Impact Investment Alliance praised proposed rules published today by the Department of Labor, which provide greatly improved guidance to the managers of 401(k)s and private pension plans, governed under the Employee Retirement Income Security Act (ERISA). Specifically, the rules acknowledge the clear and growing evidence of the financial risks posed by the climate crisis as well as the material importance of corporate America’s governance, workforce and other environmental, social and governance (ESG) practices.
Congressional Support for White House Initiative on Inclusive Economic Growth Proposal
A just and equitable recovery from the intersecting crises of the COVID-19 pandemic and economic fallout, systemic racial injustice and climate change will only be achievable if the public and private sectors work together. The U.S. Impact Investing Alliance applauds the leadership of Representative Dean Phillips (MN), Representative David Cicilline (RI), Senator Mark Warner (VA) and their colleagues in the House and Senate in writing letters to the Biden-Harris Administration in support of the proposed White House Initiative on Inclusive Economic Growth.