On March 21, 2022, the Securities and Exchange Commission (SEC) released proposed amendments to Regulations S-K and S-X (the Proposal), designed to enhance and standardize the climate-related disclosures provided by public companies. The Proposal is aimed at providing investors with consistent, comparable, reliable, and decision-useful information, while also providing issuers with greater clarity and certainty on disclosure expectations. The proposed rules incorporate concepts and vocabulary from the Task Force on Climate-Related Financial Disclosures (TCFD), a climate-related reporting framework, and the Greenhouse Gas Protocol, an accounting and reporting standard for greenhouse gas (GHG) emissions. While proposed rules on climate disclosure were anticipated, the Proposal is more extensive and prescriptive than generally expected and would impose substantial compliance burdens on most public companies. Continue reading >