ERM Seminar: SEC Requirements on Climate Change Impacts

7 April 2010

SEC Requires Companies to Disclose Climate Change Impacts on Business

On February 8, 2010, the US Security and Exchange Commission (SEC) issued new Interpretative Guidance clarifying how existing SEC disclosure requirements apply to Climate Change.  According to the SEC, companies must analyze four areas to determine the potential impact of Climate Change

1. The impacts of current and future legislation and regulations, such as Regional or National Carbon Tax or Cap and Trade programs
2. The impacts of foreign accords on businesses traded publicly in the US such as the impact the Kyoto Protocol has on operations around the world that impact financial performance
3. The indirect consequences of Climate Change regulation or business trends including impacts on suppliers and reputation, and
4. The physical impacts of Climate Change.
   
Financial disclosures regulated by the SEC must then reflect the findings of this assessment along with any information regarding legal actions against the company related to Climate Change.

ERM will provide an overview of the new requirements and share how companies are responding to this challenge.  The seminar should additionally provide an opportunity for you to benchmark your performance against other companies affected by these same requirements and also discuss consistency between various public disclosures (i.e., financial and non-financial) as this is also of interest to stakeholders.  In addition, ERM will discuss its approach already tested and used in meeting similar requirements outside the US.

This event is by invitation only. For more information  please contact Mary Pietrocarlo at mary.pietrocarlo@erm.com.

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