Fund Group Seeks New Rules on Corporate Climate-Risk Disclosure

The main U.S. investment fund trade group is urging President Joe Biden’s administration to require companies to more fully disclose climate-related risks.

Public companies already must share financially material information, but shareholders need stronger disclosures to understand how their holdings are exposed to a changing climate, said Eric Pan, the newly appointed chief executive officer of the Investment Company Institute. Washington-based ICI represents regulated funds with more than $36 trillion.

“We do think that the administration, consistent with what President Biden said on the election campaign, will make climate-risk disclosure a priority,” Pan said in an interview. ...