ASCG submits Comment Letter on the SEC’s proposal for Climate-Related Disclosures

Today, the ASCG has submitted a comment letter on the U.S. Securities and Exchange Commission’s (SEC) proposed rule “The Enhancement and Standardization of Climate-Related Disclosures for Investors” (File No S7-10-22).

Our comments focus on question 189, namely whether the future SEC provision should be structured to encompass the use of alternative reporting provisions issued by the ISSB for at least foreign private issues.

The ASCG strongly advocates for a global baseline approach in the development of sustainability reporting standards, to ensure the connectivity of future IFRS sustainability reporting standards with other international and national standards. Therefore, in our comment letter, we strongly support a provision of the SEC that would at least enable the foreign private issuers registered in the United States to use of the alternative sustainability reporting provisions as issued by the ISSB. Even better would be to apply such an approach for all SEC registrant subject to sustainability disclosures including domestic filers.