SEC officials will take a closer look at how public companies discuss approaches to addressing climate change, acting Chairwoman Allison Herren Lee said Wednesday.
Ms. Lee directed the Securities and Exchange Commission's corporation finance division "to enhance its focus" on climate-related disclosure in public company filings. Part of that effort will involve reviewing whether companies address existing rules issued in 2010, assess the level of compliance, engage with companies and "absorb critical lessons on how the market is currently managing climate-related risks," Ms. Lee said in a statement.
Those insights will be used to begin updating the 2010 guidance, she said.
"Now more than ever, investors are considering climate-related issues when making their investment decisions. It is our responsibility to ensure that they have access to material information when planning for their financial future. Ensuring compliance with the rules on the books and updating existing guidance are immediate steps the agency can take on the path to developing a more comprehensive framework that produces consistent, comparable and reliable climate-related disclosures," Ms. Lee said.
