SEC Interpretive Guidance Addresses Climate Change Disclosure Requirements

Article by Ronald J. Tenpas , Bobbi O'Connor, Thomas P. Giblin, Jr., Howard A. Kenny, John F. Hartigan, Thomas W. Kellerman, John J. McAleese, III, Alan Singer, Christopher J. McAuliffe, Linda L. Griggs and William H. Lewis, Jr.

On February 2, the Securities and Exchange Commission (SEC) issued interpretive guidance¹ for public companies regarding the application of the SEC's existing disclosure requirements to climate change (the Guidance). The SEC noted that, as an "interpretive release," the Guidance does not create any new legal requirements or modify existing ones. Nonetheless, the mere issuance of the Guidance is an indication that the SEC is focused on climate change disclosure, and therefore companies need to consider the Guidance in analyzing whether their current climate change disclosure is adequate and responsive.