"America’s top Wall Street regulator might scale back a proposal that would require public companies operating in the United States to disclose their greenhouse gas emissions and any financial risks they face from global warming. It’s a move that climate activists worry will prevent regulators from holding businesses accountable when their pledges to reduce their carbon footprints aren’t aligning with their actions.
Financial regulators have come under increasing pressure in recent years to address the private sector’s role in exacerbating climate change. Some 10,000 publicly listed companies are responsible for 40 percent of all climate warming emissions, more than twice what was previously believed, recent research found.
In response to that pressure, the Securities and Exchange Commission proposed a new rule last year that, among other things, would require certain large, publicly traded companies to report the climate emissions generated by their supply chains and customers—known as Scope 3 emissions—which experts say often make up the majority of the private sector’s carbon footprint."
Kristoffer Tigue reports for Inside Climate News February 14, 2023.
