U.S. SEC Finalizes Climate Risk Disclosure Reporting Rules

The U.S. Securities and Exchange Commission (SEC) adopted final rules on March 6, 2024, regarding mandatory climate risk disclosures for public companies. While the final rule does not include scope 3 greenhouse gas (GHG) emissions reporting provisions as was expected when the Commission first proposed its rules on March 21, 2022, the final rules do require large accelerated and accelerated filers to disclose scope 1 and/or scope 2 emissions when they are material on a phased-in basis.