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U.S. Securities and Exchange Commission Chair Gary Gensler announced plans in March to require companies to spell out the risks that the climate crisis poses to their operations in annual reports and other documents.
"The rule is already having a harmful effect," said Jon Hale, head of sustainability research at Morningstar.
It typically takes 18 months, not four-and-a-half months, for an "impactful" rule change like this one, says Bryan McGannon of US SIF.