ExxonMobil Holdings Corporation press release
InvestorNewsBreaks - SEC Adopts Landmark Climate Rule Detailing New Reporting Mandates for Public Companies
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InvestorNewsBreaks – SEC Adopts Landmark Climate Rule Detailing New Reporting Mandates for Public Companies
The Securities and Exchange Commission (SEC) has adopted a landmark climate rule requiring public companies to disclose their climate risks, adaptation strategies, board oversight of climate strategy, and the impact of climate targets on their business. This rule also mandates large non-exempt companies to report their Scope 1 and Scope 2 emissions, which are related to direct and indirect emissions from purchased energy. The rule aims to provide investors with more transparent and consistent information on corporate climate risks and impacts. Large corporations likeApple (NASDAQ: AAPL),Tesla (NASDAQ: TSLA), andExxon (NYSE: XOM)are expected to start reporting their climate risk-related information in fiscal year 2025 and their greenhouse gas emissions by fiscal year 2026.
Despite some rollbacks from the original proposal, the rule still faces legal and legislative challenges, with several Republican-led states planning to challenge it in court. The SEC’s rule is part of a global trend toward increased climate regulations, with similar reporting standards being set in the European Union, the United Kingdom, Canada, Japan, Hong Kong, and California. The rule represents a significant step toward more comprehensive climate-related disclosures, aligning with growing investor demand for such information.
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