Elizabeth Lien’s Post

🎉As promised, a quick follow to last week's In the Loop focused on what boards need to know about the SEC's new climate rule. The SEC has released the long-awaited final rules on climate-related disclosures. Audit committees will play a larger role in reviewing and ensuring the accuracy of these climate disclosures. We’ve outlined everything audit committees need to know. #sec #climate #governance #climaterisk #boardofdirectors #boardgovernance

Cooley LLP outlines the Security Exchange Commission’s recently approved #climatedisclosure rules, which require companies to disclose information on climate-related risks that are reasonably likely to have a material impact on the company's #businessstrategy, results of #operations, or financial condition.

Boards may want to consider the following: How has the company’s oversight structure evolved to reflect the varying disclosure of expectations around the globe? Does the board or committee have the expertise it needs to oversee climate-related risks and opportunities? How does management’s current risk identification and evaluation process incorporate climate-related risks?

Boards may want to consider the following: How has the company’s oversight structure evolved to reflect the varying disclosure of expectations around the globe? Does the board or committee have the expertise it needs to oversee climate-related risks and opportunities? How does management’s current risk identification and evaluation process incorporate climate-related risks?

The final SEC #Climate Disclosure Rule is here! And it represents a significant change for public companies as we enter an unprecedented era of required, standardized, and consistent climate-related disclosure, where #assurance will become a critical part of the #governance and disclosure process. Check out our initial summary of the rule here and a huge thanks to our all-star team! #deloitteesgnow

Implementation Considerations — The Time to Prepare Is Now

There’s important work unfolding at Persefoni and, clearly, an influential climate player to watch. I’ve know Mike Wallace , their Chief Decarbonisation Officer, for over two decades and through him understand the importance of Kristina Wyatt’s evolving influence. I was in the room at UNFCCC UN #CoP4 Buenos Aires in November 1998 when a few people laid down the first foundation stones of what became IETA, formally constituted in 1999. Through my United Nations years ( 2000-2012 Head of United Nations Environment Programme Finance Initiative (UNEP FI) and then for the last 12 years building The Blended Capital Group I’ve tracked IETA’s work. My take away from their 2023 European Summit in Lisbon at the end of March 2023 was simple: over 25 years the climate market ecosystem has evolved into a rich, vibrant, multi-layered and, at times, wild market place. We remain in the early “Klondike phase” of the global climate market where “trust while verify” has to be a key discipline. My point? I have an internal top ten of global corporate climate players to watch with the genuine power and vision to build the U$ 25 trillion market required to truly move the planetary dial. Recent temperature shocks from #Antartica 🇦🇶 place a huge responsibility on such companies to play their role in the creation of a credible, trustworthy, functioning global climate market place. We have zero time for misallocation of capital, false or unproven technology hype, or criminal greenwashing ( Daniel Cash). More power to Persefoni’s elbow and players like them. https://lnkd.in/eX_gDsci On IETA’s meeting and the brilliant work of Dirk Forrister and his team See: https://lnkd.in/eKemgA65

The SEC’s final rule on climate-related disclosures is officially here! Check out the Heads Up #Deloitte just published highlighting the key elements of the final rule. More to come!

On March 6, 2024, the SEC issued a final rule1 that requires registrants to provide climate-related disclosures in their annual reports and registration statements, including those for IPOs, beginning with annual reports for the year ending December 31, 2025, for calendar-year-end large accelerated filers. The final rule scales back the proposed rule2 in several key ways. For example, companies will not have to provide Scope 3 GHG emission disclosures, their financial statement disclosure requirements will be less extensive, and they will have more time to implement the disclosures and related assurance requirements.

The SEC’s final rule on climate-related disclosures is officially here! Check out the Heads Up Deloitte just published highlighting the key elements of the final rule. More to come! #esg #secreporting #transactionadvisory #technicalaccounting #deloitte #esgreporting