Acting SEC Chair Alison Lee has invited public comment on revised rules for climate change disclosure, with an eye to issuing a revised set of disclosure rules (replacing the previous set from 2010).
This announcement follows naturally from prior statements by the SEC (including from Acting Chair Lee), and only re-affirms the commitment by the Biden Administration SEC to revamp disclosure rules to take climate change into account.
We should expect that the SEC will be proposing new disclosure requirements over the coming months, and this is likely the time to engage with the SEC in order to impact these new disclosure requirements.
We would also anticipate that these new disclosure requirements, when ultimately implemented, will be the focus of enforcement activity by the SEC in line with the policy priorities of the Biden Administration.
In light of demand for climate change information and questions about whether current disclosures adequately inform investors, public input is requested from investors, registrants, and other market participants on climate change disclosure. . . . I am asking the staff to evaluate our disclosure rules with an eye toward facilitating the disclosure of consistent, comparable, and reliable information on climate change. To facilitate the staff’s assessment, set forth below are questions that would be useful to consider as part of this evaluation.
https://www.sec.gov/news/public-statement/lee-climate-change-disclosures
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