Investors Petition SEC for Mandatory ESG Disclosures

On October 1, 2018, institutional investors representing more than $5 trillion in assets—including the California Public Employees’ Retirement System, New York State Comptroller Thomas P. DiNapoli and the U.N. Principles for Responsible Investment—signed off on a petition to the SEC calling for a comprehensive framework mandating issuers to disclose ESG aspects of each public-reporting company’s operations. The petition notes that ESG information is material to a broad range of investors and that companies currently struggle to provide investors with reliable ESG information on a consistent basis. The full petition is available here. ESG disclosures were also the topic of the December 2018 meeting of the SEC’s Investor Advisory Committee.