SEC Publishes Interpretive Guidance On Climate Change Disclosure

Article by Marty Dunn , Eric Rothenberg , John Rousakis and Leanna Albrecht

On February 8, 2010, the Securities and Exchange Commission (the "Commission") published its new interpretive release (the "Release") on the application of existing public company disclosure requirements to climate change. The Commission adopted the Release at an open meeting held on January 27, 2010 (the "Open Meeting"). Our earlier client alert detailed the Commission's guidance on those topics related to climate change that may trigger disclosure requirements and the identification of those requirements.

The Release itself provides additional detail not discussed at the Open Meeting, including, in particular, on assessing what information to file with the Commission and the legislative and regulatory developments which prompted the Release and which public companies should consider when preparing their disclosure regarding climate change. We summarize these points below.