U.S. SEC extends comment period on climate risk proposal

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U.S. SEC extends comment period on climate risk proposal
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The U.S. Securities and Exchange Commission (SEC) on Monday extended until June 17 the period for public comment on its landmark proposal to require U.S.-listed companies to disclose a range of climate-related risks and greenhouse gas emissions.

Gary Gensler, who heads the agency that regulates Wall Street, said the SEC extended the deadline in response to "significant interest" from a wide range of investors, issuers, market participants and other stakeholders. The initial public comment period on the proposal expired in April.

"The SEC benefits greatly from hearing from the public on proposed regulatory changes," Gensler said in a statement. In March, the SEC unveiled its climate rule proposal, in response to investor demand for consistent information on how climate change will affect the financial performance of companies in which they invest.The proposed SEC rule forms part of President Joe Biden's push to join global efforts to avert climate-related catastrophes.

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