Five House Democrats sent this letter last week to SEC Chair Gary Gensler expressing concerns about the potential adverse implications of the proposed climate rule’s Scope 3 GHG emissions disclosure requirements on farmers and small businesses within their districts that may be pressured or required to produce emissions data to do business or continue to do business with public reporting companies. They asked that the proposal be modified to make clear that companies subject to the rule could estimate their emissions (using “reliable sources”) in lieu of relying on actual data and that the SEC also clarify the safe harbor provisions so that covered companies can provide Scope 3 emissions estimates without concerns about liability for doing so. This is one of the many concerns about the proposal that the Society raised in our comment letter.
See “Gensler says final rule on climate disclosure is not imminent” (ESG Clarity).
This post first appeared in the weekly Society Alert!