WASHINGTON, D.C. | April 28, 2022 — On April 22, Earth Day, National Whistleblower Center (“NWC”) submitted a comment in support of the Securities and Exchange Committee (“SEC”) proposal for “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” NWC’s comment strongly supports the proposed enhancements and identifies a number of areas where improvement is needed in order to empower climate whistleblowers to protect investor interests.
NWC strongly supports the proposed enhancements to the Climate-Related Disclosure requirements and specifically calls for the SEC to adopt rules which:
- Leverage the whistleblower program, by providing clear rules and prioritizing climate whistleblower tips.
- Clearly define materiality, taking a holistic approach allowing whistleblowers to bring forward information and insights related to the total-mix of climate-related outcomes rather than isolating factors which on their own may seem immaterial.
- Clarify any terms which could allow regulated parties to self-determine reporting standards – hindering effective oversight and creating inconsistencies.
- Encourage interagency cooperation, empowering whistleblowers who report to the SEC to also cooperate with environmental regulators by adopting the proposed whistleblower program Related-Action amendments.
This comment follows the SEC’s March 2021 call for public comment, where NWC supported the issuance of enhanced Climate-Related Disclosure rules which would provide clear guidance for whistleblowers and enable them to ensure investors receive honest and accurate consistent, comparable, reliable information.
The Climate-Related Disclosure rules are critical to empowering whistleblowers to come forward with confidence and be of assistance to the SEC and other agencies regulating climate and environmental impacts. NWC has long championed climate whistleblowers and is engaged in an ongoing Climate Corruption Campaign. Whistleblowers can submit requests for legal support through our Environmental and Climate Crimes Disclosure form. And, the public can learn more about climate whistleblowers and the power of effective climate related regulations by watching our Earth Day Panel, reading our Sunday Read on ESG whistleblowers, and signing our Wildlife Whistleblower Pledge.
For more information, contact NWC at info@whistleblowers.org.
