SEC Investor Advisory Committee Draft Climate Recomendation

The SEC's investor advisory committee recently released a draft climate disclosure recommendation.  The recommendation generally supported the SEC's proposal with some suggestions changes.  The recommendation runs just 6 pages but makes a number of thoughtful points. 

It calls for eliminating a proposed requirement for the board to disclose the climate expertise of its members in favor of a requirement for management to discuss climate-related risks and opportunities.  This strikes me as a better approach.  Investors want to have a sense about how the corporation will respond to climate change.  So long as the board can get qualified expert advice, it doesn't need to have members with direct climate-risk expertise--something that will be difficult to define anyway.