Earlier this week, Mark Uyeda, the Acting Chairman of the U.S. Securities and Exchange Commission (SEC), began the process of unwinding that agency’s final climate disclosure rule enacted during the Biden administration. In a...more
The march toward mandated corporate disclosures for climate-related risks continues. Despite significant pushback and substantial legal challenges, state legislatures and regulators are continuing to advance laws and rules...more
On March 6, 2024, the Securities and Exchange Commission (SEC) released final rules regarding the Enhancement and Standardization of Climate-Related Disclosures for Investors (the Final Rules). We provided an overview of the...more
On March 6, 2024, the Securities and Exchange Commission (“SEC”) issued an adopting release (Release Nos. 33-11275 and 34-99678), entitled The Enhancement and Standardization of ClimateRelated Disclosures for Investors (the...more
After nearly two years of public comments and deliberation, the U.S. Securities and Exchange Commission (SEC) adopted a Final Rule on Mandatory Climate Disclosures (Final Rule). While less sweeping than initially proposed,...more
On March 6, 2024, the SEC adopted final rules (Final Rules) requiring extensive climate-related disclosures in companies’ annual reports and registration statements. The new rules are set forth in Release No. 33-11275. The...more
Introduction - With the adoption by 196 parties of the Paris Agreement in December 2015, legally binding international climate change arrived. The Paris Agreement requires increasingly aggressive five-year cycles climate...more
The Securities and Exchange Commission adopted (in a 3-2 vote) final rules related to climate-related disclosures. These rules had first been proposed in March 2022. In his opening remarks, SEC Chair Gensler noted that the...more
Executive Summary- Climate disclosure regulations are among the most significant and complex challenges faced by companies and boards, with a variety of requirements emanating from numerous governmental authorities and...more
While the highly anticipated adoption of proposed rules on climate risk disclosure by the US Securities and Exchange Commission (SEC) appears to be on hold (the SEC’s recently revised regulatory agenda indicates possible...more
What’s in a name? According to the Securities and Exchange Commission, quite a bit. On September 20, 2023, the SEC adopted amendments to the Investment Company Act of 1940, most notably to the “Names Rule” governing the names...more
As expected, in the last couple years the ESG disclosure frameworks, including climate-related disclosures, have been moving from voluntary to mandatory. While some standard setters are seeking to streamline reporting,...more
Summary - California’s new climate legislation requires thousands of public and private companies that conduct business in the state to disclose their Scope 1, 2, and 3 greenhouse gas emissions and climate-related...more
In Short - The Situation: The California legislature passed landmark climate bills that surpass emissions disclosure requirements of any other existing state law. The bills are branded as the nation's first comprehensive...more
In late July 2023, House Republicans on the Financial Services Committee introduced four bills targeting various business and market activities that implicate environmental, social, and governance issues. In a statement...more
ESG is an acronym and importantly a movement with a viewpoint. It is also an evolving concept which uses the first letters of three words as its name. Those words are Environmental, Social and Governance. ESG is a concept...more
According to a new survey, most large companies are preparing to comply with the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule even though it is not final, but many business leaders are concerned...more
Since the start of the Biden administration in January 2021, there has been an increased focus on combatting climate change, including regulatory actions and initiatives to increase disclosure by corporations regarding their...more
REGULATORY ISSUES & UPDATES - UK Introduces New Climate-Related Disclosure Regulations for UK Companies and LLPs - The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 ("the...more
As previously reported, on March 21, 2022, the U.S. Securities and Exchange Commission ("SEC") proposed amendments to Regulations S-K and S-X that would require registrants to provide certain climate-related information in...more
On Friday, April 22, the United States and the rest of the world will recognize Earth Day 2022. With “Invest in Our Planet” as its theme, Earth Day 2022 focuses additional attention on Environmental, Social, and Governance...more
In recent years the demand for information regarding companies’ environmental, social and governance (ESG) activities, risks and opportunities has risen sharply. Shareholders and other stakeholders seek ESG information that...more
In March 2021, the U.S. Securities and Exchange Commission (SEC) created a Climate and Environmental, Social, and Governance (ESG) Task Force (ESG Task Force) within the Division of Enforcement, the purpose of which is to...more
Last month at the 2021 United Nations Climate Change Conference (commonly referred to as the COP26), the International Financial Reporting Standards Foundation (IFRS Foundation) announced the formation of an International...more
Das Thema nachhaltige Finanzierung (Sustainable Finance) nimmt weiter an Fahrt auf und steht Anfang 2021 erneut im Fokus: diesseits des Atlantiks ist zum 10. März 2021 die EU-Offenlegungsverordnung in Kraft getreten, nach der...more