U.S. securities regulator proposes requiring companies disclose climate-related risks, emissions data

The U.S. securities regulator on Monday proposed requiring U.S.-listed companies to disclose a range of climate-related risks and greenhouse gas emissions, part of President Joe Biden’s push to join global efforts to avert climate-related catastrophes.

The draft proposal, subject to public feedback and likely to be finalized later this year, should help investors get the information they are seeking while also increasing the reporting burden for Corporate America. Senator Patrick Toomey, the Senate Banking Committee’s top Republican, blasted the rule, saying it “extends far beyond the SEC’s mission and expertise.”

The SEC said the Scope 3 requirement would include carve-outs based on a company’s size, and that all the emissions disclosures would be phased in between 2023 and 2026. The SEC spent the past week shoring up the draft against potential legal challenges, six sources told Reuters.

As more companies leave America 🇺🇸 they will look to other nations to setup shop!

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. yield curve points to recession risk as market challenges Fed’s ‘soft-landing’The gap between 10-year and two-year Treasuries has narrowed by about 60 basis points since the start of the year,
Source: globeandmail - 🏆 5. / 92 Read more »

Former Apple buyer charged with defrauding more than US$10-million from companyDhirendra Prasad faces five criminal counts after allegedly exploiting his ‘position of trust’ as a buyer in Apple’s global service supply chain
Source: globeandmail - 🏆 5. / 92 Read more »