• SEC Ushers in New Season for Climate Change Disclosure
  • February 5, 2010
  • Law Firm: Covington & Burling LLP - Washington Office
  • Earlier in the day of President Obama’s first State of the Union address, one in which he again called for legislative action on climate change issues, the Securities and Exchange Commission voted to give “guidance” to public companies on climate change disclosure. Chairman Mary Schapiro was careful to set correct legal and policy context, pointing out that the agency was creating no new or revised legal standard and signaling no opinion on "whether the world's climate is changing, at what pace it might be changing, or due to what causes.” The guidance, she said, is simply intended to “ensure that our disclosure rules are consistently applied."