U.S. climate rule would save companies confusion of foreign rules – SEC

WASHINGTON (Reuters) – Establishing a climate disclosure rule for the United States market would help U.S. companies avoid the confusion of trying to use foreign reporting frameworks, Gary Gensler, chair of the Securities and Exchange Commission, said on Thursday.

Gensler told an event held by the U.S. Chamber of Commerce that he hoped an eventual rule, which was first proposed more than a year ago and received some 16,000 comments, would survive any legal challenges.

“I think for … corporate America, a rule, if we are able to finalise it, it would be best if it’s sustained in court,” Gensler said. Other jurisdictions are making their own rules, but “they have a different law, and we are not solving for their law,” Gensler said.