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A group of seven tech companies, including Google, Amazon and Facebook, urged U.S. Securities and Exchange Commission to require companies to disclose climate change reports.
“We believe that climate disclosures are critical to ensure that companies follow through on stated climate commitments and to track collective progress towards addressing global warming and building a prosperous, resilient zero-carbon economy,” the group said in a letter to the SEC.
To address climate change, the group said it is committed to taking bold steps within their operations, supply chains, products, technology and public engagement.
In the letter, the group highlighted that they purchased 21 gigawatts of clean energy and have an individual goal to procure 100% renewable energy. They stressed on the importance of regular reporting on the progress towards climate commitments and share those updates with investors and stakeholders.
“We believe that in order for such disclosures to be meaningful and comparable, they should leverage widely recognized frameworks and standards when possible,” the group said.
They also outlined some principles that SEC can incorporate in its climate change disclosure proposals. Some of the recommendations include adding relevant greenhouse gas emission information, allowing new climate related disclosures outside of annual, quarterly, and other documents filed with the SEC.
The group also suggested not to subject companies with undue liability, including from private parties and providing companies sufficient time to gather and validate information obtained from third-party providers.
