The Indianapolis Business Journal reported that the U.S. Securities and Exchange Commission (SEC) announced a proposal that would require publicly held companies to disclose specific and wide-reaching information about the risks climate change poses to their business and to report the amount of greenhouse gas emissions produced by the company and its supply chain. The publication turned to corporate partner Christine Long for insight on how this new proposal could impact public companies.
Regarding “scope 3” emissions reporting requirements, Long shared “that’s going to be, I think, very difficult for companies to do if it applies to them.”
Long also noted that the proposal “may end up looking a lot different than these proposed rules, once they’re finally approved.” The SEC’s public comment period on the proposal extends through at least May 20.
Lastly, she shared how she anticipates a fair amount of pushback on the proposal, including litigation, which could lead to changes. The U.S. Chamber of Commerce has already voiced its concerns with what it describes as the SEC’s “prescriptive approach” to climate disclosures.
The full article is available for Indianapolis Business Journal subscribers.