Climate Risk Reporting Found Lacking
The US Securities and Exchange Commission (SEC) has not adequately addressed the climate disclosure deficiencies of publicly traded corporations, according to a report, Cool Response: The SEC and Climate Change Reporting.
The report is based on a survey of more than 40,000 SEC comment letters sent to companies in the last four years and an analysis of the state of S&P 500 company reporting on climate disclosure through the end of 2013.
Over 100 institutional investors around the world representing $7.6 trillion in assets formally supported the guidance on climate risk in 2010.
The report suggests the SEC:
- Issue more comment letters to companies with inadequate disclosure of material climate risks.
- Focus on the adequacy of disclosures concerning recent, major regulatory developments.
- Create a federal interagency task force focused on the business risks of climate change, and an SEC task force to focus on reviewing climate change disclosures.
Energy Manager News
- Energy Storage: It’s About the Software
- MIT Develops Promising New Battery Storage Technology
- India Launches Net-Zero Building Portal
- Companies Cooperating on Waste-to-Energy Projects
- Clean Energy Commitment in the Corporate and Local Small Business Sphere
- Xcel Asks for $90M ‘Switching Fee’ If Lubbock Utility Joins ERCOT
- EDF Sending 127 Climate Corps Fellows to 100 Organizations
- Capegemini, Siemens Working on Analytics Platform