The U.S. securities regulator on Monday will unveil a landmark proposal requiring public companies to disclose greenhouse gas emissions, part of President Joe Biden's efforts to fight climate change.
The long-awaited draft rule from the U.S. Securities and Exchange Commission will likely require companies to disclose not only their own greenhouse gas emissions but those generated by suppliers and partners, known as Scope 3 emissions, six people with knowledge of the proposal told Reuters.Register now for FREE unlimited access to Reuters.
Given how contentious the proposal is expected to be, the SEC has spent the past week shoring up the draft against potential legal challenges, especially from the oil and gas lobby, the people said. The SEC hopes to counter by showing emissions data is crucial for investors trying to figure out how public companies will be affected by the physical and transition risks posed by climate change, the people familiar with the matter said.
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