"Large companies that do business in the United States would be required within three years to lay bare their contributions and vulnerabilities to climate change — including, in some cases, the planet-warming emissions associated with their customers and suppliers.
That’s according to the Securities and Exchange Commission, which voted today to propose groundbreaking climate disclosure rules. It’s a landmark moment for President Biden, environmental groups and climate-concerned investors. If finalized, the rules would fundamentally overhaul how publicly listed companies divulge detailed information about their climate risks, strategies and more.
“This is a watershed moment for investors and financial markets,” said SEC Commissioner Allison Herren Lee, a leading proponent of the effort.
“Climate change poses a pressing and urgent risk for investors, companies, capital markets and the economy,” Lee added. “It’s no surprise, then, that investors representing tens of trillions of dollars — more than the combined GDP of the top five ranked countries in the world — have been clear that they need more and better climate-related disclosure.”"
Avery Ellfeldt reports for E&E News March 21, 2022.
SEE ALSO:
"The S.E.C. Moves Closer To Enacting A Sweeping Climate Disclosure Rule" (New York Times)
"SEC to Require Companies to Disclose Emissions in New Plan" (Bloomberg Environment)
"The SEC Wants Companies To Disclose How Climate Change Is Affecting Them" (NPR)
"US Watchdog Plans To Make Companies Reveal Greenhouse-Gas Emissions" (Guardian)
"Five Key Takeaways From SEC’s Proposal for Climate Disclosures" (Bloomberg Green)
"New Corporate Climate Change Disclosures Proposed by SEC" (AP)
"Factbox: The U.S. SEC's Proposed New Climate Risk Disclosure Requirements" (Reuters)
"New SEC Rule Requires Companies To Disclose How They’re Approaching Climate Change" (Grist)
Advertisement 
