The U.S. Securities and Exchange Commission (SEC) just released a proposed rule requiring climate disclosure from all U.S. public companies, called the Enhancement and Standardization of Climate-Related Disclosures for Investors. Public comments will be accepted until at minimum, May 20.

The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. With this proposed rule, the SEC is responding to the need by investors for clear, consistent and comparable reporting from companies to produce useful investment insights and ensure financial markets can properly price and act on the physical and transitional risks and opportunities of climate change.

Participants heard from SEC Chair Gary Gensler, gained insight on Ceres’ high-level summary of the rule and listened to reactions of the rule from a panel of distinguished investors.