CORPORATE COMPLIANCE INSIGHTS – Two years after proposing rules requiring publicly traded companies to disclose their greenhouse gas (GHG) emissions and other climate risk-related details, the SEC on Wednesday adopted a scaled-back version of its original proposal that does not require controversial Scope 3 emissions reporting.
Passed by a 3-2 vote, the new rule will require covered entities to disclose a variety of details regarding climate-related risks, strategies and governance and, for some companies, information about material Scope 1 and Scope 2 emissions. Notably, the final rule eliminated a requirement to disclose Scope 3 emissions and exempts many types of companies from having to report emissions at all.
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