The Financial Accounting Standards Board (FASB) on May 25 added a project to its technical agenda on environmental credits. The unanimous decision came two months after the Securities and Exchange Commission (SEC) proposed new climate-related disclosure requirements that include company business strategies for use of energy credits.

Maria L. Murphy, CPA, is a regular contributor to Compliance Week. She is a senior content management analyst, accounting and auditing products, CCH tax and accounting North America for Wolters Kluwer....