SEC Climate Disclosure Proposal Presents New Risks for Consideration
The Wall Street Journal reports that the Securities and Exchange Commission’s recent climate disclosure proposal would expand the exposure of public companies to securities litigation. As a replacement to voluntary sustainability reports which can vary between different institutions and industries, companies would mandate to disclose in greater, standardized detail their climate risks and how they plan to address them. The recently proposed requirements are criticized for introducing risk of litigation related to foreseeable allegations of misstatements, even if unintentional.
The SFA ESG Task Force is meeting via conference call today, Friday April 1, to discuss its response to the SEC. Contact [email protected] for more information or sign-up to join the industry discussion. Read more.