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ARTICLE · 04 FEBRUARY 2010

Securities And Exchange Commission Issues Interpretive Guidance On SEC Disclosure Requirements Relating To Climate Change

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On Jan. 27, 2010, the United States Securities and Exchange Commission (SEC) voted 3-2 to clarify that environmental compliance requirements, environmental risks, and potential future regulations, as well as how these developments may affect profitability and business developments, must be included in annual filings to the SEC.

United StatesEnvironment
J. Eric Guth
J. Eric Guth
Christina Landgraf
Christina Landgraf
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On Jan. 27, 2010, the United States Securities and Exchange Commission (SEC) voted 3-2 to clarify that environmental compliance requirements, environmental risks, and potential future regulations, as well as how these developments may affect profitability and business developments, must be included in annual filings to the SEC.

The SEC announced that it will issue an interpretive release providing guidance to publicly traded companies on the SEC's existing disclosure requirements as they apply to business or legal developments relating to climate change. The release will clarify the type of information that publicly-traded companies must disclose to investors in terms of climate-related "material" effects on business operations. The release may result in publicly-traded companies more consistently disclosing greenhouse gas emission inventories and climate risk analyses.

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