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This week, the U.S. Securities and Exchange Commission’s climate risk disclosure rule took center stage as supporters rallied around the new policy, which brings much needed transparency to the financial services sector. Opponents unsurprisingly took legal action in an attempt to block the rule and protect their greedy billionaire donors. 

Support from around the country came in for the SEC’s new climate risk disclosure rule.

  • From UAF’s release: Last week, the U.S. Securities and Exchange Commission (SEC) approved a highly anticipated rule to standardize climate risk disclosure requirements. Federal agency officials, policymakers, and industry experts and advocates have come forward in support of the rule, saying ‘transparency and information systems are incredibly important’ and well within the SEC’s scope to enforce.

UAF released a new report on the state Attorney Generals suing the SEC over its new climate disclosure rule. The report finds that these AGs have taken millions of dollars from special interests and have dangerous ties to rightwing extremists.

  • From UAF’s report release: “These misguided lawsuits come on the heels of highly coordinated misinformation campaigns attempting to block responsible investing. These state attorneys general are acting on behalf of greedy billionaires and well-funded special interest groups, despite the fact that Americans overwhelmingly and across party lines support responsible investing.”

States are going to be at the forefront of responsible investing and will be playing a key role in protecting the rights of investors and retirees.

  • From UAF’s roundup of the coverage: Recent developments suggest that states will play a critical role in protecting responsible investing nationally. Following the Securities and Exchange Commission’s (SEC) announcement last week of its final climate risk disclosure rule, more than a dozen state attorneys general mobilized to sue the SEC. In parallel, self-serving politicians who have taken millions in campaign contributions from greedy billionaires and well-funded special interest groups are introducing anti-ESG legislation in Arizona, Georgia, and Alabama that would limit or prevent state entities from engaging in responsible investing. 

The Arizona House Committee on Government held a hearing on a dangerous anti-ESG bill that would harm the pocketbooks of Arizonans across the state.

  • From UAF’s statement: “This draconian legislation will set back the state of Arizona if enacted. Extreme legislators are using conspiracy theories in order to push their radical agenda. Responsible investing is good for the country, good for the planet, and good for the pocketbooks of Arizonans. It’s clear legislators supporting SB 1195 are working against the best interests of their constituents.”

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