{"id":65824,"date":"2024-03-06T19:23:08","date_gmt":"2024-03-06T19:23:08","guid":{"rendered":"https:\/\/www.ecoonline.com\/us-sec-finalizes-climate-disclosure-rules\/"},"modified":"2025-04-11T09:11:31","modified_gmt":"2025-04-11T09:11:31","slug":"us-sec-finalizes-climate-disclosure-rules","status":"publish","type":"post","link":"https:\/\/www.ecoonline.com\/en-us\/news\/us-sec-finalizes-climate-disclosure-rules\/","title":{"rendered":"US SEC Finalizes Climate Disclosure Rules"},"content":{"rendered":"\n
\n\t \n\t\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t \t\t\n\t\t\n\t\n\t\t\t
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The US Securities and Exchange Commission\u2019s (SEC) climate disclosure rules that have been eagerly awaited by many in the ESG (Environmental, Social, and Governance) industry were formally adopted today, March 6th, 2024, with a 3 to 2 vote. This indicates that the risk posed by climate change and the need to transition to a cleaner, low-carbon future is now formally recognized at the highest levels of oversight in the global economy.<\/p>\n\n\n\n

There has been significant debate about whether to include Scope 3 emissions in the rules, which are indirect emissions along the value chain. The SEC\u2019s focus on reporting Scope 1 and 2\u00a0emissions isn\u2019t surprising, as defining\u00a0Scope 3\u00a0boundaries can be challenging across different types of businesses. Experience from the\u00a0UK\u2019s mandatory carbon reporting rollout emphasized the importance of data quality over quantity.<\/p>\n\n\n\n

While various technology startups have been building tools to estimate Scope 3 emissions, using extrapolation and AI techniques, the focus on properly audited, financial grade Scope 1 and 2 data is likely to be more effective, after all \u2013 one company\u2019s Scope 3 emissions are another company\u2019s Scope 1 or 2 emissions.<\/p>\n\n\n\n

Another less-discussed aspect of the requirements is the need to assess direct and indirect physical risks of climate change on businesses and report on their resilience to extreme weather events and long-term changes in temperature and water availability. That being said, the agency decided to keep the climate disclosures legally binding, a step that opens up companies to legal liability if they misstate their emissions<\/p>\n\n\n\n

While the rule was subject to much debate and might face legal challenges once adopted, it is one of the many new regulatory disclosure requirements drafted or enacted worldwide in recent years with the aim to provide more comparable and transparent information on companies\u2019 impacts and risks. With similar rules adopted in California<\/a> and Europe, it sends a strong signal to markets worldwide and may mark the beginning of a new era of mandatory ESG disclosures in North America.<\/p>\n\n\n\n

Customers of our Sustainability Reporting software<\/a> can rest assured that the US SEC regulations and related disclosures are fully covered. Our solution includes advanced audit-ready outputs on scope 1, 2, and 3 greenhouse gas emissions; automated physical climate risk analysis; ESG reporting; and can connect directly to Environmental, Health, and Safety (EHS) systems needed to manage risks and protect lives on the ground.<\/p>\n\n\n\n

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About EcoOnline<\/h2>\n\n\n\n

EcoOnline makes it easier for you to protect your workforce and the planet. Champion worker safety and climate compliance with EcoOnline\u2019s intuitive suite of software solutions in Chemical Safety, Sustainability Reporting, and all aspects of Environmental, Health, and Safety (EHS) including Learning and Training.    With over 25 years of experience in 90 industries, EcoOnline is trusted by more than 10,000 brands worldwide.  To make a significant impact to the safety and sustainability of your business, visit www.ecoonline.com<\/a> <\/p>\n\n<\/div>\n\t\t\n\t <\/section>\n","protected":false},"excerpt":{"rendered":"

Eagerly awaited US SEC\u2019s climate disclosure rules have been formally adopted today.<\/p>\n","protected":false},"author":2,"featured_media":98736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"category":[66],"tags":[],"item-type":[208],"class_list":["post-65824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en-us","item-type-news-en-us"],"acf":[],"yoast_head":"\nUS SEC Finalizes Climate Disclosure Rules | EcoOnline US<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission\u2019s (SEC) climate disclosure rules were\u00a0formally adopted today, March 6th, 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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