SEC Proposes Long-Awaited Climate-Related Disclosure Rules

On March 21, 2022, the Securities and Exchange Commission (the “Commission”) proposed its long-anticipated climate-related disclosure rules that would require public companies to make disclosures of greenhouse gas (“GHG”) emissions and climate-related risks that are reasonably likely to have a material impact on their business, results of operations or financial condition in their registration statements and annual reports. Public companies currently disclose varying degrees of climate-related information utilizing disclosure frameworks developed by standard-setters, investor demands and other groups. In response to climate-related attention and investor focus, the Commission has proposed The Enhancement and Standardization of Climate-Related Disclosures for Investors (the “Proposed Rules”), which would require public companies to provide disclosures on a “common set of qualitative and quantitative climate-related disclosure topics in their filings” to