SEC Presses Companies on Climate Risk With New Rules on Horizon

Securities and Exchange Commission staff who regularly review corporate filings have sent climate-related queries to more than a dozen large companies over the past three months, according to a Bloomberg Tax review of securities filings.

The regulator has pressed businesses such as Estée Lauder Companies Inc., Oracle Corp., Eli Lilly & Co., and others to divulge why their annual financial reports contain less information about climate risk than their separate sustainability reports. Commission staff are also asking companies for details about the impact of severe weather and the how climate risks affect customer demand for their goods and services as well as competition from other businesses.

Source: SEC Presses Companies on Climate Risk With New Rules on Horizon