Concerned PRI issues brief doc on US regulation and climate change
The United Nations’ body that sets principles for responsible investment, PRI, has released a briefing document regarding proposed changes in the US around policy and regulation issues.
PRI stressed that since the US president Donald Trump took office last January, “the political tide has turned in favour of looser securities regulation, a weaker commitment to climate change and environmental legislation and a more protectionist trade policy.”
Some proposed regulatory changes that may potentially impact financial and environmental legislation include “the ability of shareholders to bring proposals to annual general meetings and a loosening of climate change policies.”
The PRI does not expect federal policymaking to have significant negative implications on the level of interest and business case for responsible investment but said it is concerned about any winding back of shareholder rights in the US, and the message that withdrawing from the Paris Agreement would send to other countries.
“Given the uncertainty around new regulatory and policy proposals in the US, it is vital that investors keep engaging policymakers on these issues,” said PRI managing director Fiona Reynolds.
“As we know, governments come and go but issues such as climate change are here to stay,” she added.
The briefing document is available here: U.S. REGULATION AND POLICY MAKING ON RESPONSIBLE INVESTMENT