Structured Finance Association Logo

Menu
  • SFA on the Issues
    • Back
    • Overview
    • Committees and Task Forces
    • COVID-19: Supporting Consumers & Businesses
    • Capital & Other Bank Regulations
    • Disclosure & Reporting
    • ESG Disclosure Initiative
    • Global Initiatives
    • Housing Finance
    • LIBOR Transition
    • Market Structure & Dynamics
    • Research Corner
    • Structured Finance in the Courts
  • About Securitization
  • News
    • Back
    • Overview
    • Press Releases
    • Industry News
    • SFA News
    • Newsletter Sign Up
  • Events
  • Diversity, Equity, and Inclusion Hub
  • Women in Securitization
  • Structured Finance Coalition
  • Structured Finance Foundation
  • About Us
    • Back
    • Overview
    • Board of Directors
    • Our Team
    • Our Members
    • Committees and Task Forces
  • Join Membership
    • About Membership
    • Join
  • Blog
  • Multimedia Library
  • Structured Thinking by Michael Bright
  • Make a Payment
  • Careers

    SEC Proposes Climate Disclosure Rules, Excludes ABS

    On March 21, 2022, the Securities and Exchange Commission (SEC) proposed new rules that would require public companies to disclose mandatory climate risk-related information in annual financial reports and registration statements. The proposed disclosures are similar to certain global climate disclosure frameworks, such as the Taskforce for Climate Financial Disclosures and the Greenhouse Gas Protocol.

    This proposal follows the March 2021 SEC request for public input on climate change disclosures, to which SFA responded with recommendations for a:

    • principle-based disclosure regime – not mandated disclosure fields.
    • phased-in approach to rulemaking – with any structured finance disclosure requirements being consider no earlier than 18 – 24 months given it is premature to scope in securitization issuers given the nascent nature of climate-related securitization issuances – and allow SFA and the securitization industry to develop market consensus disclosure frameworks for ABS (see SFA’s ESG Disclosure Initiative Disclosure Initiative).

    In line with SFA’s recommendation this proposal does not apply to asset-backed securities; the SEC stated it is continuing to evaluate climate-related disclosures with respect to asset-backed securities. In the proposal, the Commission raised the following questions relevant to ABS:

    • Should the SEC require asset-backed issuers to provide some or all of the disclosures under proposed Subpart 1500 of Regulation S-K? If so, which of the proposed disclosures should apply to asset-backed issuers?
    • Are other types of climate disclosure better suited to asset-backed issuers?
    • How can climate disclosure best be tailored to various asset classes?

    Join our SFA ESG Task Force to collaborate with other market participants on our response to the SEC proposed rule.   Please email Jeff Gudiel, [email protected], with any questions.

    Related

    ESG Green Image 1

    SFA ESG Disclosure Initiative Webinar: Existing ESG Frameworks and Potential Application to SF Market

    3rd Annual ESG in Structured Finance Symposium

    Securitization Alliance logo
    • Resources
    • Membership
    • Make a Payment
    • Join
    • Newsletter Sign Up
    • About Securitization
    • Careers
    • Contact Us
    • SFA on the Issues
    • About Securitization
    • News
    • Events
    • Diversity, Equity, and Inclusion Hub
    • Women in Securitization
    • Structured Finance Coalition
    • Structured Finance Foundation
    • About Us

    Structured Finance Association

    1776 I Street NW Suite 501

    Washington, DC 20006

    Privacy Policy Terms of Use
    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT