![]() ![]() An overwhelming number of comment letters state that investors view ESG information as material to financial performance and that investors need consistent and reliable disclosures of ESG information to inform their investment decisions. ![]() We received hundreds of responses many of which also addressed disclosures concerning other ESG risks. In March of this year, the Commission sought public comment on climate change disclosure. As you know, it generally refers to environmental, social and governance risks, and these are some of the most pressing issues companies are facing. ESG Risks Facing Today’s Investors & Public CompaniesĮSG is not a monolithic concept. So even though I cannot speak for the Commission, today I will discuss how I have been thinking about ESG in the public issuer context. Army reservist, and the Soldier in me truly appreciates your commitment to readiness. I have to caveat my statements today with the standard disclaimer that any views I express today are my own and do not reflect the views of my fellow Commissioners, the Commission or its staff. It’s a big question, and spoiler alert – I cannot speak for the Commission and tell you what is to come. I understand there is an interest in hearing what ESG means to the SEC and what ESG regulations are on the horizon. I suspect many of you will not be surprised that Kevin and his team have shared with me that ESG is top of mind for this group. And I welcome it because it means we can get a bit more technical and talk about financial reporting issues. It’s not often-even in this job-that I find myself speaking before such a large group of controllers, accountants and other finance professionals of public companies. I appreciate the opportunity to speak, and I look forward to answering your questions today. It’s a pleasure to be here today at the annual PepsiCo-PwC CPE conference, which I understand is a tradition going back 18 years now. Thank you for the kind introduction Kevin. ![]()
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