U.S. companies may have to disclose suppliers, partners' emissions under expected climate risk rule -SEC Chair

The new details are likely to spark consternation among U.S. issuers

  
Plumes of smoke rise from chimneys at an industrial area in Greece. Image used for illustrative purpose.

Plumes of smoke rise from chimneys at an industrial area in Greece. Image used for illustrative purpose.

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WASHINGTON- The U.S. Securities and Exchange Commission (SEC) could require public companies to disclosure their suppliers' and partners' emissions as part of a new climate-change risk disclosure rule, its chair said on Wednesday, adding that the agency is also exploring creating industry-specific requirements.

Gary Gensler also said that while the agency would learn from existing international climate risk disclosure standards, the SEC would create rules that are "appropriate" for the U.S. markets.

The new details are likely to spark consternation among U.S. issuers who have been pushing for a broad, principles-based climate risk disclosure regime rather than prescriptive demands.

(Reporting by Katanga Johnson in Washington, D.C. Editing by Michelle Price) ((Katanga.Johnson@thomsonreuters.com | 202-579-4165 | @kjspeakstruth))


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