It’s no longer a question of if regulators will require companies to disclose their greenhouse gas (GHG) emissions. It’s a question of when, experts told attendees during the opening session of Compliance Week’s virtual ESG Summit on Tuesday.
“The requirement to disclose GHG emissions will find you,” said independent consultant Doug Hileman as part of a discussion on the regulatory landscape for environmental, social, and governance reporting.
Referring to the Securities and Exchange Commission’s proposed climate-related disclosure rule, which would require public companies to disclose GHG emissions of their value chain (Scope 3 emissions), Hileman advised, “Whether the SEC includes Scope 3 or not (in its rule), it won’t matter. You need to gear up to do it.”
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Gary Gensler, despite being put on the spot by a member of Congress, declined to provide an update on when the Securities and Exchange Commission might approve its climate-related disclosure rule for public companies.
John Gagel, chief sustainability officer for Lexmark International, shares with Compliance Week why the private company tracks its greenhouse gas emissions and plans to comply with the climate-related disclosure rule proposed by the Securities and Exchange Commission.
Companies that haven’t yet set up verifiable reporting in their sustainability programs have a ready reference available in the framework put out by the Committee of Sponsoring Organizations of the Treadway Commission, experts discussed at CW’s virtual ESG Summit.
The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.
Nearly three months from the effective date of its beneficial ownership reporting rule, the Financial Crimes Enforcement Network released guidance for small businesses to determine whether they must comply and what information they might be required to provide.
A lawsuit filed by industry groups alleging the Securities and Exchange Commission overstepped its authority when it passed new rules for private fund advisers is unlikely to stop their implementation, according to experts.
