Author: Khalid Azizuddin
US and global regulators set out positions on sustainability-related disclosures US and global regulators set out positions on sustainability-related disclosures US and global regulators set out positions on sustainability-related disclosures
Feb 25th, 2021
The US Securities and Exchange Commission (SEC) is set to review and update its decade-old ‘interpretative’ guidance on climate-related corporate disclosure requirements, according to a statement by acting SEC Chair Allison Herren Lee.
The regulator will examine the extent to which companies are already complying with the guidance, assess current disclosure obligations under federal securities law and launch engagement initiatives on the topic. Insights from this preparatory work will be used to update the guidance, first issued in 2010 during the tenure of former Chair Mary Schapiro, who is now Secretariat for the global disclosure framework the TCFD.
While the guidance itself is non-binding and does not introduce any new legal requirements, it provides a basis for companies to identify scenarios in which climate disclosure obligations may be triggered. Specifically, the guidance refers to the introduction of international climate change…