NEW YORK: Publicly-traded US companies would be required to disclose their greenhouse gas emissions and their approach to managing climate change risks under a proposed rule approved by Washington Monday.
"Climate risks can pose significant financial risks to companies," said SEC Chair Gary Gensler, an appointee of President Joe Biden. Companies would be required to report emissions from their own activities, known as Scope 1, and indirect emissions from purchased energy, known as Scope 2. But Hester Peirce, the lone Republican member of the SEC and the only one of four commissioners to vote against the proposal, argued current rules sufficiently account for climate risk and that the measure distorts the regulatory agency's mission.
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