Remove sec-climate-rule-making-update
article thumbnail

SEC Climate Rule-Making Update: Understanding the Obstacles to Finalization

Audit Board

The differences in ESG reporting create opportunities for inaccurate ESG performance comparison and poor decision-making. As such, the US Securities and Exchange Commission (SEC) has proposed formal rules for reporting climate-related metrics and risk disclosures. . Obstacle #1: High Volume of Comments to Process.

article thumbnail

SEC Climate Disclosure Proposal May Be the Next SOX for Internal Audit

Audit Board

After a year of hinting at development of sweeping environmental disclosure rules, the U.S. Securities and Exchange Commission (SEC) has finally announced proposed regulations, titled The Enhancement and Standardization of Climate-Related Disclosures for Investors. And, while we’re only at the “proposed rules” stage, U.S.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

New California Legislation Would Be a Major Step Forward for Climate Disclosure

Reynolds Holding

The Securities and Exchange Commission regulations on climate disclosure, first proposed in March 2022 and likely to be issued in final form in October 2023, [1] have drawn considerable controversy and face an uncertain fate in the inevitable litigation. [2] 4] The new corporate climate disclosure bills may well continue that tradition.

article thumbnail

Preparing for the SEC Cybersecurity Disclosure Proposed Rules: Key Steps and Questions

Audit Board

The SEC has come out with a wide range of proposed rules covering topics such as climate risk disclosures, SPACs, and now cybersecurity disclosures. Given the need for consistency and transparency in financial reporting, we believe there is a high likelihood that these rules will come to pass.

article thumbnail

ESG legislation heats up: What it means for tax professionals

ThomsonReuters

In the first half of 2021, President Biden issued several climate change-related executive orders, such as E.O. In October 2021, The Financial Stability Oversight Council (FSOC) released a new report on climate-related financial risk that recommends new actions on climate change data, disclosure, and scenario analysis.

article thumbnail

ESG Regulations Guide: Decoding the US, UK, and EU Climate Rules

Audit Board

What to Know About the UK, EU, and US Climate Disclosure Requirements: Essentials Current Status Why the increasing urgency? The UK requirements are law, the EU proposals take effect in January 2024, and the US rules are expected to be announced in October 2023. Materiality How do the disclosure rules assess materiality?

article thumbnail

Bipartisan Group of Former SEC Officials and Securities Experts Confirms Longstanding SEC Authority on Climate Disclosure

Reynolds Holding

The Working Group on Securities Disclosure Authority respectfully submits these comments on the Commission’s recent proposal related to mandated, standardized climate-related disclosures for investors. Leading practitioners who advise companies on their disclosure obligations under SEC rules.