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
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
The SEC announced an open meeting for March 6, 2024 to vote and consider adoption of final climate-related disclosure requirements for public companies. This comes after nearly two years since the SEC first proposed its...more
On December 19, 2023, Institutional Shareholder Services Inc. (“ISS”) released its updates to its Proxy Voting Guidelines. Somewhat unusually, ISS made only one change to its voting recommendation policies for U.S. public...more
According to a survey conducted by KPMG, 75% of companies are not in a position to obtain third-party assurance on their published ESG data. This is despite the fact that two-thirds of companies must disclose such data, or...more
Environmental law NGO ClientEarth has written to the Global Public Policy Committee (GPPC), which brings together representatives of the six large international accounting organizations, to request greater transparency and...more
ACRA and SGX RegCo are consulting on recommendations for climate-related disclosure reporting for Singapore companies. The recommendations cover both listed and large non-listed companies. The requirement will be rolled out...more
According to the recently published MSCI May 2023 Net Zero Tracker report, more listed companies are making climate commitments, setting decarbonization targets, and providing related disclosures, but these steps have not...more
A new report by professional services firm EY has found that only 5% of FTSE 100 companies have disclosed “credible” and sufficiently detailed transition plans to become net zero by 2050....more
On March 23, 2023, the International Accounting Standards Board (IASB) commenced a new “maintenance” project to “explore whether and how financial statements can better communicate information about climate-related risks.”...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
Environmental advocacy group As You Sow has sent climate-focused shareholder resolutions to five major U.S. banks. The resolutions request that the banks disclose their climate transition plans for meeting financed emissions...more
In its second report assessing how, and to what extent, S&P 100 companies have implemented climate-related policies into their own business initiatives, Ceres, through its Accelerator for Sustainable Capital Markets, found...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
Amidst the many weighty matters discussed and debated at the recent COP26 climate conference, a major announcement with momentous potential effects on businesses may have gone unnoticed. The IFRS Foundation said at the...more