SEC Maintains The Status Quo On Climate Change Disclosures

Yesterday the Securities and Exchange Commission Chair Clayton and Commissioners Lee and Peirce each issued statements on climate-related disclosures in SEC filings. The statements evidence some debate within the SEC on this topic, which has attracted considerable recent attention among investors, companies and regulators.

The outcome for companies is generally the status quo, as the SEC chose not to include specific requirements on climate change or other environmental, social and governance (ESG) disclosure in the amendments to MD&A it proposed yesterday.

The three statements can be found here: Chair Clayton's statement; Commissioner Lee's statement and Commissioner Peirce's statement.