Mar 52021

SEC Announces Goal to Address Climate Disclosure Requirements

Samuel B. Boxerman and Samina Bharmal

On February 24, 2021, the acting Chair of the U.S. Securities and Exchange Commission (SEC), Allison Herren Lee, issued a statement directing the agency’s Division of Corporation Finance to enhance its focus on climate-related disclosures in public company filings. SEC issued guidance in 2010 to address public companies’ disclosure requirements regarding climate-related risks. Acting Chair Lee will require the Division to work toward updating that guidance. Her statement acknowledged the growing investor interest in climate-related risks and indicated that it is the agency’s “responsibility to ensure that [investors] have access to material information when planning for their financial future.” Acting Chair Lee’s statements are another indicator from the Biden administration for public companies to anticipate new or revised requirements on climate-related disclosures.

This post is as of the posting date stated above. Sidley Austin LLP assumes no duty to update this post or post about any subsequent developments having a bearing on this post.

Samuel B. Boxerman

Washington, D.C.

sboxerman@sidley.com

Samina Bharmal

sbharmal@sidley.com

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