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On February 18, 2021, the Institute of International Finance (“IFF”) hosted the U.S. Climate Finance Summit, at which both John Coates, Acting Director of the SEC’s Division of Corporation Finance, and Federal Reserve Governor Lael Brainard made statements in favor of companies providing fulsome ESG disclosures. These pronouncements underscore the Summit’s larger goal of supporting a “pro-growth, pro-markets transition to a sustainable, low-carbon economy.”
Acting Director Coates said that the SEC “should help lead” the creation of a disclosure system for ESG issues for corporations. He noted that rigid, specific disclosures aren’t necessarily the answer as they can easily become out-of-date. Nevertheless, Coates recognized that companies are already reacting to increasing shareholder interest for ESG information by issuing various sustainability reports organized by private groups. Indeed, he
Stocks closed lower Wednesday as another rise in bond yields fueled concerns on Wall Street that higher inflation is on the way as the economy picks up. The S&P 500 dropped 1.3%,shedding an early gain. The pullback is the benchmark index’s second straight loss after clocking its best day in nine months on Monday. Technology […]
On February 18, 2021, the Institute of International Finance ("IFF") hosted the U.S. Climate Finance Summit, at which both John Coates, Acting Director of the SEC's Division of Corporation Finance.