US policy

As the world’s largest capital market, the PRI is actively engaged in the US, working with Congress, regulators, allies and signatories to support a sustainable financial system.

Key publications

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Policy briefing: Enabling US state-level sustainable financial systems

2024-11-25T09:29:00+00:00

[Region: US] Five high-level policy recommendations that US state and local officials can consider to support responsible investment practices.

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Policy briefing: Signatory responses to state anti-ESG laws

2024-06-12T16:45:00+01:00

This briefing summarises interviews with US signatories regarding the impact of state anti-ESG laws on their business operations.

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Policy briefing, 118th Congress: Analysis of proposed legislation in the financial services sector

2023-07-21T09:39:00+01:00

[Region: US] This briefing presents summary and analysis of select proposed bills pending before the US House of Representatives and US Senate.

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Congressional statement for the record

2023-07-12T19:40:00+01:00

[Region: US] The PRI submitted a statement for the record regarding a hearing held by the House Financial Services Committee titled, “Protecting Investor Interests: Examining Environmental and Social Policy in Financial Regulation”.

Latest policy engagements

PRI response to the California Air Resources Board's information solicitation on implementation of climate disclosure legislation

The PRI submitted a consultation response to the California Air Resources Board's information solicitation to inform implementation of California climate disclosure legislation SB 253 and SB 261, as amended by SB 219. These laws impose climate-related disclosure requirements on US public and private companies that do business in California and meet certain annual revenue thresholds. Reporting pursuant to these requirements will help to provide investors with the comparable, decision-useful climate-related data they need (and currently lack) from companies to inform their investment decision-making processes, enabling them to allocate capital more efficiently, and account for climate-related financial risks and opportunities.

See response

PRI letter to New York Governor supporting adoption of a human capital management disclosure bill

PRI submitted a letter to Governor Kathy Hochul of New York, supporting the adoption of Assembly Bill A5981. If signed, the bill would require companies operating in the state of New York to file their EEO-1 reports with the NY Secretary of State. Companies' data on the race, gender, and ethnicity of employees would then be made publicly available. By requiring companies to file their EEO-1 data for public release, New York can support investor efforts to identify and address HCM-related issues across their portfolios. Certain companies are already required to report this information annually to the Equal Employment Opportunity Commission, and as such, sharing this information with the State of New York—and with investors—requires no additional effort.

See letter

PRI Response to the Financial Accounting Standards Board (FASB) proposed accounting standards update for income taxes

The PRI supports the proposed changes to Topic 740 of the FASB Accounting Standards Codification® on requiring more granular and specific information regarding rate reconciliation and income taxes paid. We further recommend the FASB considers additional amendments in the future to meet the evolving needs of investors around income tax disclosures. The benefits to investors would be greatly enhanced if these proposed changes were to be accompanied by disclosures on key jurisdiction-level information such as revenues and operating results on a similar level of disaggregation.

See response

PRI letter to Congress on consideration of the Department of Labor's "Prudence and Loyalty" rulemaking

PRI submitted a letter to Congress sharing concerns with a resolution to disapprove of the Department of Labor's "Prudence and Loyalty" rulemaking that provided clarity around investor consideration of ESG factors.

See letter

In the press

ESG Dive | Anti-ESG laws challenge fiduciary obligations, add significant reporting burden: PRI

bloomberglaw.com | State Anti-ESG Laws Haven’t Deterred Some Investors, Report Says

Fortune | Biden weighs in on the battle for the soul of Wall Street. Here’s how the president’s first veto will shape the way Americans’ money is managed

Investments and Pensions | SEC approves long-awaited climate disclosure rule

Responsible Investor | US investors: SEC climate rule ‘step in right direction’ but more work needed

Washington Post | New rules will force U.S. firms to divulge role in warming the planet

Morningstar | 9 Things to Know About the SEC’s New Climate Rule and How It Affects You

BisNow | SEC Unveils New Emission Standards, Much to the Relief of CRE

The Hill | ESG shows free markets are working

ESG Investor | ESG Backlash “Understandable, but Misguided”

The Hill | Consistent, comparable disclosure sits at the heart of our global financial system

GreenBiz | Can we rewrite the rules of green finance quickly enough?

Blogs

Webinars

US policy in 2025 and implications for investors

2025-02-11T16:39:00+00:00

With the federal government shifting from Democratic to Republican Party control, this webinar focuses on the changes in priorities, leadership positions, and implications for US and global investors.

Further resources

  • Policy-briefings

    Policy reports

    Search our policy briefings

  • Key policy developments of 2020

    Consultations and letters

    Search our policy consultations and letters

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    A Legal Framework for Impact

    It is crucial that assessing and accounting for sustainability impact becomes a core part of investment activity. That’s why PRI, UNEP FI and The Generation Foundation are leading our work programme “A Legal Framework for Impact.”