The Securities and Exchange Commission recently adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules represent a significant overhaul of existing disclosure requirements, and they expand the reporting obligations for public companies.
With that in mind, AEM is pleased to offer a special Member Education Webinar to help prepare for the rules to go into effect, featuring Pickering Energy Partners Consulting Partner Dan Romito, BDO Advisory Managing Parter Holly Carr, BDO Advisor Assurance Hub leader Alex Garside, and AEM Senior Vice President Curt Blades. Scheduled for Thursday, March 28 from 1 p.m. to 2 p.m. CST, “What’s Next – Understanding and Preparing for the Securities and Exchange Commission Climate Disclosure Requirement” will:
- Highlight the key requirements of the rules
- Outline who the rules impact along with the corresponding timing of impact
- Detail how to efficiently prepare and plan accordingly
- Identify the tools required to align with the mandate
- Address questions, concerns, and comments
While portions of the SEC’s final climate disclosure rules were scaled back compared to proposed ones, they do require public companies to disclose, among other things:
- Material climate-related risks and activities to mitigate or adapt to such risks
- Information about their board of directors' oversight of climate-related risks and management’s role in managing material climate-related risks
- Information on any climate-related targets or goals that are material to their business, results of operations, or financial condition
In addition, to facilitate investors' assessment of certain climate-related risks, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas (GHG) emissions on a phased-in basis by certain larger registrants when those emissions are material. In addition, they require the filing of an attestation report covering the required disclosure of such registrants’ Scope 1 and/or Scope 2 emissions, also on a phased-in basis; as well as disclosure of the financial statement effects of severe weather events and other natural conditions including, for example, costs, and losses.
The SEC’s final rules include a phased-in compliance period for all public companies, with the compliance date dependent on their respective filer status and the content of the disclosure. For more information on the SEC’s new requirement, contact AEM’s Curt Blades at cblades@aem.org or AEM's Al Melhim at amelhim@aem.org.
About AEM Member Education Webinars
AEM members have exclusive access to help them stay on top of emerging issues and trends via member education webinars. Experts break down industry issues and pinpoint critical changes in the landscape to help attendees refine their company’s strategy.
For more information on the upcoming series of member education webinars, contact your Account Success Advisor.
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