Last Thursday, the Biden Administration proposed that all federal contractors (except those receiving less than $7.5 million annually in contracts) be required to, among other things, disclose their GHG emissions....more
On March 21, 2022, the Securities and Exchange Commission (“SEC”) unveiled its long-anticipated proposed rules on climate disclosures, entitled “The Enhancement and Standardization of Climate-Related Disclosures for...more
3/31/2022
/ Biden Administration ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
GHG Auction ,
Proposed Rules ,
PSLRA ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Task Force on Climate-related Financial Disclosures (TCFD)
On March 21, 2022, the SEC finally issued a proposed rule on mandatory climate disclosures. This proposed rule has been expected for some time--it was widely anticipated to be a centerpiece of the Biden Administration's...more
In his annual letter to CEOs, BlackRock CEO Larry Fink asked that CEOs "issue reports consistent with the Task Force on Climate-related Financial Disclosures." As the head of the biggest asset manager in the world, Fink's...more
Last week, the CEO of State Street Global Advisors--one of the largest investment managers--issued a letter to corporate boards of directors announcing a series of priorities with respect to the companies in which it invests....more
John Galloway, the global head of investment stewardship at Vanguard, Inc.--one of the preeminent index fund managers in the United States--recently announced a set of expected climate-focused disclosures that Vanguard...more
Yesterday, the Singapore Exchange announced that "[a]ll issuers must provide climate reporting on a 'comply or explain' basis in their sustainability reports" stating in FY 2022, and that these "climate-related disclosures"...more
The United Kingdom recently published "Greening Finance: A Roadmap to Sustainable Investing." This document reflects and incorporates a number of environmental initiatives, including the principle that "[t]he financial...more
On October 20th, SEC Commissioner Lee delivered a speech focused on the regulations concerning climate disclosures that the SEC is expected to issue soon. (Indeed, Commissioner Lee emphasized that these regulations are...more
In a speech yesterday in a webinar hosted by the Principles for Responsible Investment, SEC Chairman Gensler offered additional clarity on his thoughts concerning mandatory disclosures about climate risk.
First,...more
During his remarks at London City Week, SEC Chairman Gensler again highlighted the SEC's new focus on climate change disclosures. Specifically, Chairman Gensler identified climate change disclosures as his top priority, and...more
Following the meeting of G7 leaders in Cornwall, a joint communique was issued on June 13, 2021 concerning many issues of common interest, including climate change....more