SEC proposes climate-related disclosure requirements
Mar 21, 2022
On March 21, 2022, the SEC issued a proposed rule, "The Enhancement and Standardization of Climate-Related Disclosures for Investors".
The proposal would require “registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, and certain climate-related financial statement metrics in a note to their audited financial statements.”
In the proposing release, the SEC noted that the disclosures registrants would be required to provide are similar to those that many companies provide under existing disclosure frameworks and standards, such as the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD) and the Greenhouse Gas Protocol.
Review the following information:
- Deloitte's Heads Up — SEC proposes rule on climate disclosure requirements
- Press release and fact sheet, as well as statements by SEC Chair Gary Gensler and Commissioners Allison H. Lee, Hester M. Peirce, and Caroline A. Crenshaw, on the SEC’s website.
- Statements by TCFD Chair Michael Bloomberg and Vice Chair for Public Policy Mary Schapiro on the TCFD website.
- IFAC statement welcoming the proposal und stressing the importance of international alignment on the IFAC website.