US financial market regulator drops proposed rule to require greater transparency on ESG claims for investors
WASHINGTON DC - The Securities and Exchange Commission (SEC) has announced it will withdraw a rule aimed at promoting consistent, comparable, and reliable information on ESG issues for investors.
Proposed in May 2022, the SEC’s “Enhanced Disclosures by Certain Investment Advisers and Investment Companies about ESG Investment Practices” (RIN: 3235-AM96), was intended to categorise ESG funds and mandate specific disclosures in prospectuses, annual reports, and adviser brochures, including greenhouse gas emissions for certain funds.
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