Tech Companies Tell SEC They Support Regular Reporting on Climate Issues
June 11 2021 - 6:36AM
Dow Jones News
By Kimberly Chin
A group of large technology companies, including Google parent
Alphabet Inc., Amazon.com Inc., Facebook Inc. and Salesforce.com
Inc., said they support consistent and regular reporting on
climate-related issues, according to a letter sent to the
Securities and Exchange Commission Friday.
The SEC's calling for climate change disclosures will encourage
companies to regularly measure, track and report their progress on
sustainability, the companies said.
"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 companies said in
the letter.
The agency is mulling whether to change or update its existing
guidance on climate disclosures and whether to ask companies for
mandatory disclosures on climate-related risks and environmental,
social and governance factors. The agency opened a public comment
period in March.
The companies recommend the agency should adopt a
principles-based framework, include relevant greenhouse-gas
emissions data, use existing climate reporting frameworks and
standards and require climate reporting to be separate from other
filings submitted to the SEC--due to the reliance on estimates and
assumptions in climate reporting, they say--as well as to give
companies enough time to gather and assure information from
third-party providers.
Autodesk Inc., eBay Inc. and Intel Corp. were also among the
group that signed the letter.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
June 11, 2021 06:23 ET (10:23 GMT)
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