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Securities regulators in the United States were expected to take the long-awaited move on Monday, demanding that publicly traded companies provide more information to investors about their climate change impact and greenhouse gas reduction plans.
The Securities and Exchange Commission will discuss the much anticipated climate disclosure rule at a meeting Monday morning, which is at the center of commission chair Gary Gensler’s regulatory agenda. The commission may vote on the measure at the meeting.
The proposed rule, which will be open to the public for at least 60 days, will establish a reporting framework that requires all companies to begin providing information on the climate-related impacts of their businesses in their annual reports.
The rule is expected to spark controversy with some in the business community and can be challenged in court – something that could delay its effective date. The SEC sought to ward off anticipated opposition, noting that the commission had guided companies for decades in disclosing information about the environmental impacts of their businesses.
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