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Tech Companies Push SEC to Make Climate Reports Mandatory

Tech Companies Push SEC to Make Climate Reports Mandatory

Seven tech companies are appealing to the Securities and Exchange Commission to force companies to regularly release issues related to their climate policies to their shareholders, according to CNBC. Executives at Amazon, Facebook, Intel, Salesforce, Autodesk, eBay, and Google’s parent company Alphabet are teaming up for the effort.

Leaders collaborated on a letter sent last Friday to SEC Chair Gary Gensler that was written as a reply to a call for public feedback on climate-related matters. In the letter, the company leaders pointed to regulations they believe the SEC should mandate be included when it comes to businesses consistently disclosing climate practices. They want reporting on greenhouse gas emissions as outlined by standards worldwide to be incorporated as well.

“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 companies wrote in the letter.

They believe climate reporting should be filed apart from other SEC submissions because such reporting focuses on estimates, according to MarketWatch. Executives are also urging the SEC to give businesses an adequate amount of time to collect the relevant information they need from third parties.

Company executives insist they have bought, in total, 21 gigawatts of clean energy. Each leader also has a goal of reaching 100 percent renewable energy.

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