Upcoming SEC vote on new climate information disclosure rule - Environmental Health News
Upcoming SEC vote on new climate information disclosure rule - EHN
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Upcoming SEC vote on new climate information disclosure rule
February 29, 2024
1 min read
The U.S. Securities and Exchange Commission is preparing to decide on a landmark rule mandating public companies to disclose extensive climate-related data, potentially reshaping corporate transparency on environmental impact.
Avery Ellfeldt reports for E&E News.
In short:
- The rule would require companies to report how climate change and clean energy transitions impact their financial statements.
- Opposition from Republicans and business groups cite concerns over the rule's complexity and cost.
- Modifications to the initial draft could alleviate some requirements but still mark a significant move towards climate-related corporate accountability.
Why this matters:
This rule will help integrate climate risks into financial considerations, potentially influencing both investment strategies and public policy. It represents a substantial shift in how companies and regulators address the financial dimensions of environmental challenges.
Be sure to read Kristina Marusic’s piece: Oil and gas methane emissions in US are at least 15% higher than we thought.
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.