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There's a Silver Lining to U.S. Foot-Dragging on Climate Reporting

Being late to the party might have given the SEC an edge over some of its peers

A construction worker outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C.

A construction worker outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C.

Photographer: Al Drago/Bloomberg

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The new rules proposed by the Securities and Exchange Commission this week for climate-related financial risk disclosures were a long time coming. U.S. regulators have trailed behind counterparts elsewhere in the world, from New Zealand’s mandatory climate risk disclosures to Europe with its sustainability ratings for funds and green bond taxonomy. The U.K., Singapore, and India are all in various stages of introducing compulsory corporate climate risk reporting.