US securities regulator publishes April for climate regulation action

0
9
THE BHARAT EXPRESS NEWS INSURANCE NEWS
THE BHARAT EXPRESS NEWS INSURANCE NEWS
New You can now listen to Insurance Journal articles!

The chief U.S. securities regulator has named April as the release date for a long-awaited rule on climate-related companies’ disclosures, according to a recent federal report.

In a draft proposal last March, the U.S. Securities and Exchange Commission said it would require publicly traded companies to specify their own direct and indirect greenhouse gas emissions, known as “Scope 1” and “Scope 2” emissions, plus certain types of “Scope 3”. emissions from suppliers and customers.

ALSO READ  People Moves: Generali GC&C Appoints Former Tokio Marine Exec Kanu as CEO; BHSI hires Aviva Major as UK country manager; Marsh appoints Perry UK CEO of Credit Specialties

US SEC Unveils Historic Climate Change Risk Disclosure Rule

The proposal received support from many investors, but corporate groups have backed off and sought more discretion over the details they provide, with the US Chamber of Commerce, the US Chamber of Commerce, calling the requirements too complex and rigid.

Investors say US SEC Climate Disclosure Rule to clarify ‘Mixed Bag’ of data

ALSO READ  James, CEO of British Motor Insurance Direct Line, is stepping down

The SEC’s notice was released Jan. 4 as part of a broader list of federal agenda items, with the caveat that the agency “may consider or deal with any matter earlier or later than the estimated date on the agenda.”

Other SEC items listed for final action in April apply to Special Purpose Acquisition Companies (“SPACs”) and disclosures related to cybersecurity risks.

ALSO READ  Hannover again transfers cyber risk to capital markets through proportional reinsurance

subjects
United States

Was this article valuable?


Here are more articles you might like.

The most important insurance news, every working day in your inbox.

Receive the insurance industry’s trusted newsletter