The U.S. Securities and Exchange Commission approved new rules this month on what information companies must disclose about their greenhouse gas emissions and climate risks, but notably dropped more stringent requirements that the commission initially proposed.
Despite being halted by lawsuits, the rules are a significant win for climate transparency. But they’re not as strong as existing climate disclosure regulations in California and the European Union, where many multinational corporations do business anyway.
So how big of a deal are the new SEC rules?
In this episode, Shayle talks to Mallory Thomas, risk advisory partner at consulting and accounting firm Baker Tilly US. The two talk about the details of the new rules and cover topics like:
The rules’ requirements for disclosing greenhouse gasses and climate risks
How the rules compare to European Union’s Corporate Sustainability Reporting Directive and California’s twin climate disclosure laws
Which companies are required to comply and under what conditions
How standardized reporting may help with comparability across companies
Recommended resources:
Baker Tilly: SEC announces final rules for climate-related disclosures
Deloitte: A landmark ruling for ESG disclosure requirements
Reuters: US climate rule will boost sustainable accounting industry
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Digging into the SEC climate disclosure rules | Catalyst with Shayle Kann podcast - Listen or read transcript on Metacast
