SEC Delays Climate Rules...Again
The SEC expects to finalize Climate Disclosure Rules in April 2024 after missing the last deadline in October. The Climate Disclosure rules are significant for publicly traded companies.
The long-awaited SEC climate disclosure rules are in the Final Rule Stage with an updated deadline of April 2024. 💐
The rules were last expected to be released in late October 2023 and that deadline came and went without any formal updates from the SEC.
Finalizing these climate disclosure rules is critical to removing the handcuffs that have stalled some companies from taking action as they await the Final Rules from the SEC.
Some companies have delayed investment in compiling their carbon emissions data across Scope 1, 2, and 3 categories.
Oftentimes the data collection process can takes months for large corporations. Scope 3 emissions data collection and analysis can even take years to complete.
Once there is regulatory clarity in the market, companies will need to move quicky to identify their greenhouse gas emissions data and quickly develop business processes and software tools to facilitate the carbon accounting process
