SEC Schedules Vote on Proposed Climate Disclosures

The Securities & Exchange Commission has announced that it will be voting on “whether to adopt  rules to require registrants to provide certain climate-related information in their registration statements and annual reports”--i.e., the SEC's proposed rule on climate disclosures--on March 6, 2024.  

So, two years after the rules were first proposed in March 2022, and after extensive public comment and debate, there will finally be a vote by the Commission as to whether to adopt the rules.  (As this regulation has been a centerpiece of Chairman Gensler's tenure at the SEC, it seems likely it will be adopted on a party-line vote by the Commission.)

The contents of the final proposed rule have not yet been publicized, but that should be expected within the next few days.  Significantly, we will then learn of the differences between the March 2022 proposal and the final rule, particularly if the requirement for Scope 3 disclosures has been dropped, as recent press reports have suggested.