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SEC Will Track Environmental Disclosures

Compliance Week | July 20, 2004

According to a new report from the GAO, the SEC has agreed to improve the way it tracks environmental disclosures from public companies.

The report comes on the heels of a 2003 U.N. Summit on Climate Risk, which emphasized the importance of environmental disclosure.

Shortly after the event, a group of the nation’s largest institutional investors wrote a letter to the chairman of the SEC, urging the Commission to clarify the importance of companies detailing their climate risk disclosure in the MD&A section of periodic reports.

The GAO report was published the same week that a study analyzing environmental disclosures of U.K. companies found most lacked depth or quantitative data. According to Simon Thomas, chairman of the London-based firm that completed the study for the U.K's Environment Agency, “There is overall very little consistency in the type or...

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