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A Voice for our Ocean

STATEMENT: Ocean Conservancy Comments on New SEC Climate Risk Disclosure Rules

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WASHINGTON, D.C. – Aarthi Ananthanarayanan, Director of Ocean Conservancy’s Climate and Plastics Initiative, issued the following statement in reaction to the Climate Risk Disclosure Rule released by the U.S. Securities and Exchange Commission (SEC) on March 6, 2024:

“Climate risk is financial risk. Across the U.S., climate-driven disasters caused over $92 billion in damages in 2023. Coastal communities and businesses are already living this reality. Investors have been clear that they need data on climate-related financial risks to help inform their investment decisions. Today the SEC took a first step in providing investors with the consistent, comparable, and reliable information about climate risk they have long said they need.

“At the same time, this rule falls far short by not requiring any reporting of Scope 3 emissions, which make up 70% of the heat-trapping emissions that are driving climate risks. We can’t manage what we don’t measure, and the SEC’s ruling highlights the importance for investors of the stronger disclosure standards from California and internationally. We look forward to seeing the SEC work toward more robust disclosure requirements over time that improve transparency and equip investors to navigate and mitigate climate risks and take advantage of opportunities.”


Aarthi Ananthanarayanan is available for interviews upon request.

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