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ARTICLE · 12 FEBRUARY 2010

Climate Change: A Financial Consideration

CMS Cameron McKenna Nabarro Olswang
Explore more from CMS Cameron McKenna Nabarro Olswang

On 27 January 2010 the Securities and Exchange Commission (the "SEC") voted to provide public companies with interpretative guidance on existing SEC disclosure requirements as they apply to business and legal developments relating to climate change risks.

United KingdomFinance and Banking
Olivia Quaid
Olivia Quaid
Valentina Keys
Valentina Keys
Paul Sheridan
Paul Sheridan

On 27 January 2010 the Securities and Exchange Commission (the "SEC") voted to provide public companies with interpretative guidance on existing SEC disclosure requirements as they apply to business and legal developments relating to climate change risks. The new guidance is designed to complement existing disclosure rules that require companies to disclose the impact that legal and economic developments related to climate change may have on their business. In this article we consider briefly the growing consensus among companies and regulators on the need for improved and harmonised disclosure practices relating to climate change issues.

SEC Climate Change Disclosure Guidance

The new SEC Guidance (sec.gov/news/press/2010/2010-15.htm) is designed to meet repeated demands of shareholders and investors who are beginning to consider climate change risks as material in investment decisions. In the US, Federal securities laws and SEC regulations require

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