US Chamber of Commerce

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Washington DC, United States

The US Chamber does not appear to have supported regulatory intervention on sustainable finance. It appears to support emissions reductions in the US but has not specified a level of ambition.

The US Chamber has stated strong opposition to the need for policy to regulate ESG disclosure, both on its website and in a 2019 press release. In a letter to the House of Representatives in 2021, it further argued against mandatory disclosure. After the SEC released its proposed climate disclosure rule in March 2022, the US Chamber issued a press release outlining its concerns that the proposal was too "prescriptive." In its June 2022 letter to the Commission, the US Chamber argued that the SEC does not have the authority to implement the rules and suggested that the rules violate the First Amendment. The US Chamber also opposed specific key aspects of the rule, including Scope 3 reporting and inclusion of financial reporting rules.

In 2020, the US Chamber strongly supported the SEC's rollback which would heavily limit shareholder authority both in response to the agency’s consultation and in a joint advocacy letter. It also stated support to the 2020 US Department of Labor's proposed rollbacks that would limit fiduciaries' ESG investing and voting on ESG issues, although it did ask to review certain provisions in order to avoid unnecessary incurred costs.

The US Chamber has disclosed some positions on sustainable finance policy on its website, including some activities to influence these policies. It has also disclosed board membership, however it does not disclose its full membership.

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