Sen. Elizabeth Warren on Wednesday unveiled a plan that would force corporations to disclose how climate change could affect their businesses, saying she wants to use “the power of public markets” to accelerate the adoption of “clean energy.” The Democratic presidential hopeful said in a Medium post that companies could be hurt by the likely environmental effects of climate change, and that global efforts to combat it could force coal, gas, and oil reserves to go unused in the coming decades. Ms. Warren said she would direct the Securities and Exchange Commission to craft rules that make every public company disclose the likely effects on the company if climate change continues “at its current pace,” and if the world meets the greenhouse gas emission targets outlined in the Paris Agreement of 2015. Fossil fuel companies will have to make more detailed disclosures, she said. “My plan will push more investors to move their money out of the fossil fuel industry, accelerating the transition to clean energy,” she said. “It will also demonstrate to investors that — if nothing else — climate change represents a serious risk to their money and they need to demand global action to address it.” Ms. Warren said her plan has the support of people such as Rep. Alexandria Ocasio-Cortez and former Vice President Al Gore. The announcement comes a day after Ms. Ocasio-Cortez teamed up with Sen. Bernard Sanders, another 2020 presidential contender, to announce a new resolution seeking to declare a climate emergency in the U.S. Ms. Warren and most of the other U.S. senators running for president signed on as co-sponsors of the resolution.Ms. Ocasio-Cortez has offered recent praise for both Mr. Sanders and Ms. Warren, but has not yet endorsed a presidential candidate.
Elizabeth Warren wants to require companies to disclose ‘climate-related risks’
Sen. Elizabeth Warren on Wednesday unveiled a plan that would force corporations to disclose how climate change could affect their businesses, saying she wants to use “the power of public markets” to accelerate the adoption of “clean energy.” The Democratic presidential hopeful said in a Medium post that companies could be hurt by the likely environmental effects of climate change, and that global efforts to combat it could force coal, gas, and oil reserves to go unused in the coming decades. Ms. Warren said she would direct the Securities and Exchange Commission to craft rules that make every public company disclose the likely effects on the company if climate change continues “at its current pace,” and if the world meets the greenhouse gas emission targets outlined in the Paris Agreement of 2015. Fossil fuel companies will have to make more detailed disclosures, she said. “My plan will push more investors to move their money out of the fossil fuel industry, accelerating the transition to clean energy,” she said. “It will also demonstrate to investors that — if nothing else — climate change represents a serious risk to their money and they need to demand global action to address it.” Ms. Warren said her plan has the support of people such as Rep. Alexandria Ocasio-Cortez and former Vice President Al Gore. The announcement comes a day after Ms. Ocasio-Cortez teamed up with Sen. Bernard Sanders, another 2020 presidential contender, to announce a new resolution seeking to declare a climate emergency in the U.S. Ms. Warren and most of the other U.S. senators running for president signed on as co-sponsors of the resolution.Ms. Ocasio-Cortez has offered recent praise for both Mr. Sanders and Ms. Warren, but has not yet endorsed a presidential candidate.
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