Five Key Takeaways From SEC’s Proposal for Climate Disclosures
What you need to know about the U.S. regulator’s plans to measure companies’ carbon footprints.
Emissions rise from a Valero Energy Corp. oil refinery in Memphis, Tennessee.
Photographer: Luke Sharrett/BloombergThe U.S. Securities and Exchange Commission issued a 500-plus-page proposed rule Monday that would mandate corporate disclosure of greenhouse gas emissions. It builds on years of voluntary efforts.
With publicly traded companies responsible for 40% of emissions, investors have been pressing the regulator for rules. The plan is “the most extensive, comprehensive and complicated disclosure initiative in decades,” said Meredith Cross, a former SEC director who’s now a partner at law firm WilmerHale.
The SEC will review comments from the public during the next 60 days, and may revise its proposal before holding a vote to finalize the rule.