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ESGBreaks – SEC Adopts Landmark Climate Rule Detailing New Reporting Mandates for Public Companies

The Securities and Exchange Commission (SEC) has adopted a landmark climate rule requiring public companies to disclose their climate risks, adaptation strategies, board oversight of climate strategy, and the impact of climate targets on their business. This rule also mandates large non-exempt companies to report their Scope 1 and Scope 2 emissions, which are related to direct and indirect emissions from purchased energy. The rule aims to provide investors with more transparent and consistent information on corporate climate risks and impacts. Large corporations like Apple (NASDAQ: AAPL), Tesla (NASDAQ: TSLA), and Exxon (NYSE: XOM) are expected to start reporting their climate risk-related information in fiscal year 2025 and their greenhouse gas emissions by fiscal year 2026.

Despite some rollbacks from the original proposal, the rule still faces legal and legislative challenges, with several Republican-led states planning to challenge it in court. The SEC’s rule is part of a global trend toward increased climate regulations, with similar reporting standards being set in the European Union, the United Kingdom, Canada, Japan, Hong Kong, and California. The rule represents a significant step toward more comprehensive climate-related disclosures, aligning with growing investor demand for such information.

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About ESGWireNews

ESGWireNews (“ESG”) is a specialized communications platform with a focus on the Environmental, Social and Governance (ESG) sector and public companies committed to sustainable corporate practices. ESGWireNews is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, ESG is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, ESG brings its clients unparalleled recognition and brand awareness. ESG is where breaking news, insightful content and actionable information converge.

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ESGWireNews
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