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- Title
Disclosing climate risks.
- Authors
Lozowski, Dorothy
- Abstract
The U.S. Securities and Exchange Commission (SEC) has finalized rules that require companies to disclose information about climate-related risks in their annual reports and registration statements. The rules aim to provide investors with consistent and reliable information about the financial effects of climate-related risks on a company's operations. The rules will become effective 60 days after publication in the Federal Register, with compliance dates phased in based on the registrant's filer status. The rules require disclosure of material climate-related risks, activities to mitigate or adapt to those risks, board oversight of climate-related risks, and information on climate-related targets or goals. Some companies are also required to disclose greenhouse gas emissions. The requirement to report Scope 3 emissions was dropped in the final rules. The American Chemistry Council (ACC) has expressed support for the removal of the Scope 3 emissions reporting requirement, stating that it posed unique challenges for the chemical sector. The ACC emphasizes its commitment to being partners and solution providers in supporting a lower-emissions economy.
- Subjects
CORPORATE finance
- Publication
Chemical Engineering, 2024, Vol 131, Issue 4, p4
- ISSN
0009-2460
- Publication type
Article