The report is based on a survey of more than 40,000 SEC comment letters sent to companies in the last four years and an analysis of the state of S&P 500 company reporting on climate disclosure through the end of 2013.
Over 100 institutional investors around the world representing $7.6 trillion in assets formally supported the guidance on climate risk in 2010.
The report suggests the SEC:
Issue more comment letters to companies with inadequate disclosure of material climate risks.
Focus on the adequacy of disclosures concerning recent, major regulatory developments.
Create a federal interagency task force focused on the business risks of climate change, and an SEC task force to focus on reviewing climate change disclosures.