Statement by John Pope re: US Securities and Exchange Commission’s (SEC) proposal to require climate disclosure for publicly traded companies
By John Pope, President and Chief Executive Officer, Carbon Geocyle
The US Securities and Exchange Commission’s (SEC) proposal to require climate disclosure for publicly traded companies is welcomed. We are particularly pleased the SEC recognized that its proposed rule would require companies to disclose their impact on climate risks for both their direct operations and supply chain. The transparency of reported data on climate risks within a company’s supply chain will help all of us understand the all-in impact and cost of a company’s activities and justify the investment required to mitigate them.
Experts agree that to meet the Paris Agreement’s goal of keeping planetary warming below 2 degrees Celsius, it’s essential to reduce carbon emissions from energy-intensive industries. According to an MIT study last year, carbon capture and storage (CCS) has the potential to remove up to 90-99% of CO2 emissions from an industrial factory. This proposed rulemaking will go a long way in scaling CCS technologies so that companies like mine can help meet the world’s mid-century climate goals. We commend the SEC for taking this action and intend to submit formal comments to the agency in support of this proposed rulemaking.
STATEMENT BY JOHN POPE
PRESIDENT AND CHIEF EXECUTIVE OFFICER