by Ben Maiden
Group wants regulator to act on false and misleading claims about climate change
The SEC has received the latest request to act on ESG-related disclosures, although agency officials have indicated caution over prescriptive rulemaking in the area.
McLean, Virginia-based Energy and Environment Legal Institute (E&E Legal) this week filed a petition urging the commission to ‘take appropriate action to prevent and prohibit registrants from making materially false and misleading claims and statements related to global climate change.’
E&E Legal states that it does not wish to change the SEC’s 2010 risk-oriented disclosure guidance on climate change. In addition to any such disclosures required by other SEC rules, the guidance suggested four climate-related areas subject to disclosure – i.e. business risks – from: legal or regulatory impacts; international agreements; business trends; and weather/physical events.