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ARTICLE · 08 MARCH 2021

SEC Doubles Down On Climate And ESG Issues

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Yesterday, the SEC announced the formation of a Climate and ESG Task Force in the Division of Enforcement.

United StatesCorporate/Commercial Law
Alan Wilson
Alan Wilson
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Yesterday, the SEC announced the formation of a Climate and ESG Task Force in the Division of Enforcement.  This announcement follows Acting Chair Allison Herren Lee's earlier statement directing the Division of Corporation Finance to enhance its focus on climate-related disclosures in public company filings, first by reviewing company disclosures and assessing companies' compliance with disclosure obligations, including under the 2010 Commission Guidance Regarding Disclosure Related to Climate Change. 

Consistent with other enforcement priorities, the Division of Enforcement's efforts will employ "sophisticated data analysis to mine and assess information across registrants, to identify potential violations."  The Climate and ESG Task Force's first area of focus is identifying "material gaps or misstatements in issuers' disclosure of climate risks under existing rules."  The task force will also be evaluating and pursuing tips, referrals and whistleblower

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