US. SEC proposes climate-related disclosures for public companies
The Securities and Exchange Commission on Monday proposed rule amendments to require public companies to disclose climate-related risks and greenhouse gas emissions.
The commission approved the rule amendments in a 3-1 vote, with its lone Republican, Hester M. Peirce, dissenting.
Under the proposal, public companies would be required to disclose a host of climate-related information in their registration statements and periodic reports, including:
- The oversight and governance of climate-related risks by the registrant’s board and management.
- How any climate-related risks identified by the company have had or are likely to have a material impact on its business and consolidated financial statements, which may manifest over the short, medium or long term.
- How any identified climate-related risks have affected or are likely to affect the company’s strategy, business model and outlook.
- If the registrant has adopted a transition plan as part of its climate-related risk management strategy, a description of the plan, including the relevant metrics and targets used to identify and manage any physical and transition risks.
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