Wednesday, February 17, 2010

Security Exchange Commission Adds Climate Change Risk Reporting Requirement

Here's a Repost from the New York Times & GSC News..

Green Supply Chain News: SEC says Companies Should Disclose Climate Change "Risks" to Investors, in move that Could have Large Impact on Business

In 3-2 Vote, SEC says Companies Must Disclose Physical, Financial and other Risks from Actual Climate Change to Cap and Trade Legislation

In a move that could ultimately have a big impact on businesses and Green supply chain activities, the Securities and Exchange Commission (SEC), in a party-line vote, approved "guidance" that requires companies to dlsclose to investors through various financial statements and filings what their level of "climate change risk" is likely to be.

SEC head Mary L. Schapiro said that the commission was not creating new legal requirements for companies, nor did it intend to endorse any particular scientific or policy view of global warming. She said that including climate risks among other disclosures, such as legal or business risks, was a logical step.

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