Customer Relationship Management solutions provider Salesforce announced today its support for mandatory climate reporting, joining an emerging movement calling on regulators to require companies to disclose emissions data and goals.
Sustainability reporting, particularly related to climate issues has become a key focus issue for investors looking to increasingly integrate climate and other sustainability issues in their investment processes, with a lack of consistent, comprehensive data repeatedly cited as the key barrier to sustainable investing.
Salesforce’s announcement follows an announcement by Apple last week, calling on the U.S. Securities and Exchange Commission (SEC) to require consistent, audited emissions reporting. The tech companies’ initiatives come as the SEC is re-examining sustainability and climate reporting rules for companies. In February, SEC Acting Chair Allison Herren Lee announced that the commission will review its guidance for public company obligations for disclosures related to climate change risk, citing increased demand by investors for material, comprehensive and consistent information. The review includes determining the extent to which such disclosures should be mandatory.
In its statement today, Salesforce said:
“Salesforce supports the SEC’s recent move to evaluate its climate disclosure rules with the goal of facilitating consistent, comparable, and reliable information on climate change. To this end, Salesforce believes that companies should be required to publicly disclose independent third-party-reviewed emissions information, covering Scopes 1, 2 and 3 as well as emission reduction goals.”