Acting SEC Chair Lee's Speech on Additional Climate and ESG Initiatives

Summary

This First Analysis article discusses Acting SEC Chair Allison Herren Lee's speech that she delivered on March 15, 2021 at a briefing hosted by the Center for American Progress (remarks, available here). Building on the recent climate disclosure directive issued to the Division of Corporation Finance on February 24, the Division of Examination's March 3 announcement of its enhanced focus on climate and ESG in 2021, and the launch of an SEC climate and ESG enforcement task force on March 4, Acting Chair Lee identified additional areas where the SEC's regulatory mission intersects with climate and ESG issues, and the associated initiatives that she has directed the SEC to undertake. These initiatives, if implemented, would have significant impact not only on climate and ESG topics, but also on the rules governing shareholder proposals and "proxy plumbing".