SEC Set to Vote on Climate Change Disclosure Rules on March 6 - JD Supra
SEC Set to Vote on Climate Change Disclosure Rules on March 6 | Wilson Sonsini Goodrich & Rosati - JDSupra
On February 28, 2024, the U.S. Securities and Exchange Commission (SEC) published notice of an open meeting to be held on Wednesday, March 6, 2024, to consider whether to adopt rules to require public companies to disclose certain climate-related information in their registration statements and annual reports.
The SEC proposed climate change disclosure rules in March 2022, which were modeled in part on the Task Force on Climate-Related Financial Disclosures and the GHG Protocol. For information on the proposed rules, please see our Client Alert.
The proposed rules have been the subject of intense scrutiny, including thousands of public comment letters submitted to the SEC (available here), and speculation as to what the final rules may look like. As recently as last week, Reuters reported that the SEC was planning to drop the Scope 3 emissions disclosure from the final rules. We look forward to seeing how the final rules differ from the proposed rules and will issue a client alert on the final rules.
Related Knowledge Center: Air emissions
More than 30 years after the last major update of the Clean Air Act, the U.S. Supreme Court has upended the ability of Congress to give the Environmental Protection Agency and other federal agencies broad scope to combat air pollution, including the emission of greenhouse gases. Meanwhile, further Biden administration efforts to limit emissions face opposition in the courts.