On March 4, 2021, the US Securities and Exchange Commission
(SEC) announced the creation of a Climate and ESG Task Force in the Division of
Enforcement. According to the SEC, the Task Force will develop
initiatives to proactively identify ESG-related misconduct in the
form of gaps or misstatements of issuer disclosure by means of the
Division's resources, including the collection of tips and
whistleblower complaints and the use of data mining and
analysis.
Background
The creation of the Task Force follows a February 24, 2021 directive from
Acting Chair Allison Herren Lee to the Division of Corporate
Finance to enhance the focus on climate-related disclosure in
public company filings. The directive instructs SEC staff to take
the following actions:
