SEC Proposal for Climate Disclosure
Inside this issue
The Securities and Exchange Commission (SEC) proposed rule changes for companies to include climate-related disclosures including Scope 1, 2, and 3 greenhouse gas emissions. The 500+ page document provides background on the proposal along with definitions and discussion around several key issues.
According to the SEC, the rules would include independently verified Scope 1 and 2 emissions along with a phase-in period for Scope 3 emissions.
The proposed rule changes would require a registrant to disclose information about:
(1) the registrant’s governance of climate-related risks and relevant risk management processes
(2) how any climate-related risks identified by the registrant have had or are likely to have a material impact on its business and consolidated financial statements, which may manifest over the short-, medium-, or long-term
(3) how any identified climate-related risks have affected or are likely to affect the registrant’s strategy, business model, and outlook
(4) the impact of climate-related events (severe weather events and other natural conditions) and transition activities on the line items of a registrant’s consolidated financial statements, as well as on the financial estimates and assumptions used in the financial statements
⚡️ Action: Monitor the proposal and public comments to prepare for policy changes.
Inside this Issue
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❇️ West Virginia Hydrogen Hub Coalition Takes Next Step to Secure Hub in West Virginia
🤝 Two hydrogen plants expand with new partner
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