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Photo: Kena Betancur/VIEWpress

Financial regulators are getting an earful from powerful interests looking to influence new federal climate disclosure requirements.

Why it matters: Interest from Wall Street, K Street, Congress and beyond signals the topic's growing salience within the Biden administration.

Driving the news: The comment period just closed on the Securities and Exchange Commission's call for preliminary input on how companies should disclose climate-relevant information. Here are a few viewpoints...

  • Democratic Sens. Brian Schatz and Sheldon Whitehouse call for detailed banking industry reporting. They say disclosure of "financed emissions" — that is, business with fossil fuel companies — should include "off-balance sheet activities like equity and debt underwriting, as well as advisory work."
  • The American Petroleum Institute cautions against an overly expansive definition of "material" disclosures. It also urges consideration of compliance costs to small- and mid-sized companies, and it says the SEC should provide liability protections typically afforded to businesses' forward-looking statements.
  • The National Association of Manufacturers says reporting requirements should focus on metrics that are "financially material to the investors in a specific business."
  • Asset manager BlackRock says the SEC should take its cues from existing efforts like the Task Force on Climate-related Financial Disclosures. It also says reporting on emissions from the use of companies' products in the economy (called "Scope 3") and certain other quantitative disclosures "may require a phased approach."
  • Friends of the Earth, Amazon Watch and the Rainforest Action Network, in joint comments, urge the SEC requirements to cover "risks associated with deforestation and unsustainable land use."

Zoom in: Check out many filings on this page. It also lists SEC staff meetings with parties like the U.S. Chamber of Commerce, Shell, JPMorgan Chase and more.

What's next: The SEC plans to begin formal rule-making later this year.

Go deeper

The SEC investigates Activision Blizzard, Bobby Kotick

Photo illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

The Securities and Exchange Commission is investigating Activision Blizzard in regards to the company's recent scandal over sexual misconduct and discrimination at the company, the Wall Street Journal reports.

Why it matters: The investigation is the latest in a series of high-profile escalations against Activision Blizzard.

First look: Real estate firms invest $140 million in climate tech

Illustration: Annelise Capossela/Axios

Large real estate companies are putting $140 million into a climate tech fund that aims to help decarbonize the sector, according to an announcement Monday morning from the venture firm Fifth Wall.

Why it matters: The funding round, which includes some of the largest players in the industry, signals growing momentum toward backing new technologies needed to slash carbon emissions to net-zero by midcentury and achieve negative emissions thereafter.

Updated 2 hours ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Pfizer and Moderna boosters overwhelmingly prevent Omicron hospitalizations, CDC finds — Omicron pushes COVID deaths toward 2,000 per day — The pandemic-proof health care giant.
  2. Vaccines: The case for Operation Warp Speed 2.0 — Starbucks drops worker vaccine or test requirement after SCOTUS ruling — Kids' COVID vaccination rates are particularly low in rural America.
  3. Politics: Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" by Biden on anti-mask school policies — Federal judge blocks Biden's vaccine mandate for federal workers.
  4. World: American Airlines flight to London forced to turn around over mask dispute — WHO: COVID health emergency could end this year — Greece imposes vaccine mandate for people 60 and older — Austria approves COVID vaccine mandate for adults.
  5. Variant tracker