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SEC will consider climate disclosure rule

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SEC will consider climate disclosure rule

Securities regulators in the United States were expected to take a long-awaited move Monday and asked publicly traded companies to inform investors about their impact on climate change and any plans to reduce the release of greenhouse gases. More information needed to be reported in

The Securities and Exchange Commission, in a meeting Monday morning, will consider the much-anticipated climate disclosure rule, which has been a centerpiece on Commission Chairman Gary Gensler’s regulatory agenda. The commission can vote on the measure at the meeting.

The proposed rule, which will be open for public comments for at least 60 days, would establish a reporting framework that would require all companies to begin providing information about the climate-related impact of their businesses in their annual reports.

The rule is expected to generate controversy with some in the business community and may be challenged in court – something that could delay its effective date. The SEC sought to get ahead of the anticipated protests by pointing out that the commission has been issuing guidance to companies about disclosing information on the environmental impact of their businesses for several decades.

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