Proposed SEC climate change risk disclosures could qualify U.S. companies for a waiver from compliance with the EU corporate sustainability reporting requirements that were adopted by the EU in December 2022. The deciding factor may be the reporting of scope 3 emissions, those that are associated with the value chain—both suppliers and end-users—of a company’s product or services. EU officials have said that if the final SEC rule doesn’t include Scope 3 reporting requirements, the EU would be “unlikely to treat the U.S. disclosure regime as equivalent to its own.”
EU Could Waive Sustainability Disclosures for US Firms if SEC Rules Include Scope 3 Emissions
Published on April 28, 2023
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