The SEC announced on Monday that it extended the comment period for its climate-related disclosure rule, which would require companies to report both direct and indirect greenhouse gas emissions, through June 17. The original deadline was May 20.SEC Chairman Gary Gensler said people and entities"with diverse views have noted that they would benefit from additional time to review these three proposals.
The proposal, pitched as a tool to keep investors informed about risks, would make any corporation report to investors the greenhouse gas emissions coming directly from its operations, as well as those generated indirectly from the purchase of energy. Leading Republicans and oil and gas industry groups opposed the rulemaking, arguing the proposal and the philosophy behind it are responsible for stifling investment in fuel commodities that are in high demand.
The commission has historically “stepped in when there is significant need for the disclosure of information relevant to investors’ decisions,” he also said. “That’s where we are right now, by the way.”