US Securities and Exchange Commission approves rule requiring some companies to report GHG emissions

By Suman Naishadham
The Associated Press
March 6, 2024
Category: Carbon, Climate & Bioenergy
Region: United States

The U.S. Securities and Exchange Commission on Wednesday approved a rule that will require some public companies to report their greenhouse gas emissions and climate risks, after last-minute revisions that weakened the directive in the face of strong pushback from companies. The rule was one of the most anticipated in recent years from the nation’s top financial regulator, drawing more than 24,000 comments from companies, auditors, legislators and trade groups over a two-year process. It brings the U.S. closer to the European Union and California, which moved ahead earlier with corporate climate disclosure rules. …Since the SEC proposed a rule two years ago, experts had said it was likely to face litigation almost immediately. …The weakened rule doesn’t require companies to report some indirect emissions known as Scope 3. Those don’t come from a company or its operations, but happen along its supply chain or that result when a consumer uses a product, such as gasoline.

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