"Large companies that do business in the United States would be required within three years to lay bare their contributions and vulnerabilities to climate change — including, in some cases, the planet-warming emissions associated with their customers and suppliers.

That’s according to the Securities and Exchange Commission, which voted today to propose groundbreaking climate disclosure rules. It’s a landmark moment for President Biden, environmental groups and climate-concerned investors. If finalized, the rules would fundamentally overhaul how publicly listed companies divulge detailed information about their climate risks, strategies and more.

“This is a watershed moment for investors and financial markets,” said SEC Commissioner Allison Herren Lee, a leading proponent of the effort.

“Climate change poses a pressing and urgent risk for investors, companies, capital markets and the economy,” Lee added. “It’s no surprise, then, that investors representing tens of trillions of dollars — more than the combined GDP of the top five ranked countries in the world — have been clear that they need more and better climate-related disclosure.”"

Avery Ellfeldt reports for E&E News March 21, 2022. [2]

SEE ALSO:

"The S.E.C. Moves Closer To Enacting A Sweeping Climate Disclosure Rule" (New York Times) [3]

"SEC to Require Companies to Disclose Emissions in New Plan" (Bloomberg Environment) [4]

"The SEC Wants Companies To Disclose How Climate Change Is Affecting Them" (NPR) [5]

"US Watchdog Plans To Make Companies Reveal Greenhouse-Gas Emissions" (Guardian) [6]

"Five Key Takeaways From SEC’s Proposal for Climate Disclosures" (Bloomberg Green) [7]

"New Corporate Climate Change Disclosures Proposed by SEC" (AP) [8]

"Factbox: The U.S. SEC's Proposed New Climate Risk Disclosure Requirements" (Reuters) [9]

"New SEC Rule Requires Companies To Disclose How They’re Approaching Climate Change" (Grist) [10]