Federal Tax, Tax

SEC Finalizes New Climate Disclose Rules for Public Companies

The SEC has voted 3 to 2 to finalize its climate disclosure rules for public companies. When the SEC released proposed rules two years ago, legal challenges followed and went as far as the U.S. Supreme Court, which ultimately questioned the agency’s authority. So the SEC has dropped the Scope 3 greenhouse gas emission disclosure and modified the Scope 1 and 2 disclosures. The final version also narrows financial statement requirements by eliminating a financial metrics disclosure. However, public companies will still be required to disclose capitalized costs, expenditures expensed and losses related to carbon offsets and renewable energy credits. For details: https://bit.ly/49Pcna1. Contact us with any questions. © 2024