Andrew Ramonas’ Post

You're either in, or you're in the way. Which is it going to be? Both sides of the argument are upset. Grab a seatbelt and grab some popcorn... it's about to get interesting! Only hours after the U.S. Securities and Exchange Commission’s (SEC) adopted new climate-related disclosure rules, a coalition of ten Republican states announced the launch of a lawsuit to block the rules. At the same time, Sierra Club and Sierra Club Foundation are considering their own legal action because they feel the SEC didn't go far enough in the final rule. If you would like help understanding how the new SEC requirements could impact your organization, or how emissions can affect a company's finances, SHIFT Critical International can help. Reach out and we'd be happy to bat it back and forth with you over coffee. #shifthappens #esgdisclosure #regulatorycompliance https://lnkd.in/gfaPfMuu

At long last! While it's not everything we'd hoped for, I'm relieved, proud and energized to have federal legislation on climate disclosure that goes well beyond what we have now. 'Bout time climate risk became a part of SEC filings! From SEC Chair Gary Gensler: "Our federal securities laws lay out a basic bargain. Investors get to decide which risks they want to take so long as companies raising money from the public make...‘complete and truthful disclosure." Couldn't agree more. #climatepolicy #ghgaccounting #climaterisk #climatedisclosure

Today, the SEC adopted its long awaited rules that standardize climate-related disclosures by US public companies, requiring them to report on the climate risks facing their business, their plans to address the risks, the financial impact of severe weather events, and for larger filers, greenhouse gas emissions originating from operations that are deemed material, among additional disclosure items. Though the rules exclude Scope 3 emissions from the SEC's initial proposal, they're expected to be a step toward greater transparency for investors and consumers. The SEC reported that it considered 24,000 letters (including 45,00 unique ones). "The final rules reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how it manages those risks while balancing concerns about mitigating the associated costs of the rules." Take a look at the press release: https://lnkd.in/dgfKNBRi

🚨In a recent hearing, GOP lawmakers raised concerns over U.S. Securities and Exchange Commission 's push for climate-related disclosures, highlighting potential unintended consequences for businesses and consumers. 🔍 Key Question: As legal battles ensue and political tensions simmer, it's imperative for companies to prepare for compliance with the evolving regulatory landscape. Let's discuss how your organization is navigating these challenges and gearing up for the future. #SEC #ESG #ClimateDisclosure #RegulatoryCompliance

Happy to hear our SEC enhanced climate-related disclosure requirements, including reports on greenhouse gas emissions. Now let’s see if the street adjusts company valuations accordingly. Valuation MUST reflect environmental impact lest our planet become Arrakis. https://lnkd.in/ejyatGSB

The U.S. Securities and Exchange Commission adopted a scaled-back final rule requiring US public companies to disclose greenhouse gas emissions and climate-related risks. Notably absent from the rule is a requirement to disclose scope 3 or value-chain emissions. #climatedisclosure #SEC #greenhousegasemissions #GHG

The SEC emissions reporting requirements have finally been published. It is disappointing that only Scopes 1 and 2 are included. Weak sauce. Fortunately the EU requires Scope 3 to be reported and global corporations need to comply with that. This is just another example of the power of corporate money and lobbying in the United States to avoid doing what's right. #climate #emissionsreporting #carbonemissions #carbonfootprint #sustainability https://lnkd.in/g5w9kc3d

Adding more fuel to an already fiery debate, reporter Stefan Modrich explains how witness testimony in this week’s congressional hearing about new #SEC climate disclosure rules underscored the political sensitivity of “what has become a polarizing debate over the scope of environmental, social, and governance (ESG) focused policies in U.S. commerce, and many states and companies have sought to challenge the rule through the courts.” While ESG principles have spread widely throughout Europe and North America and are applied in many corporations and regulatory bodies, lawsuits have temporarily halted the clock on enforcement of the U.S. rule. Experts suggest that companies continue to prepare for the eventuality of some form of disclosure rules. #globalwarming #ESG #riskmanagement #ehs

U.S. Securities and Exchange Commission issued a final rule that requires registrants to provide climate-related disclosures in their annual reports and registration statements. These registrants must disclose information such as material climate-related risks and activities to mitigate or adapt to such risks. What are some key takeaways regarding the new rule disclosure? • Scope 1 and Scope 2 reporting will be mandatory for larger publicly traded companies. • Scope 3 reporting has been removed. • The U.S. materiality standard does not change. • This rule requires disclosures to be filed with the SEC, not just posted. • Footnote requirements are reduced. The impact of the #SEC climate disclosure rules has the power to transform your business needs as it will improve the consistent, comparability and reliability of climate-related information for investors. To learn what these new rules mean for investors, contact our team today: https://bit.ly/3cOAM6G To dive into Forbes 5 key takeaways from the New Climate- Related Disclosure, you can read the full article here: https://bit.ly/3TcIOIo #tax #taxcredits #taxequity #Taxinvestments #climate

Today, the U.S. Securities and Exchange Commission (#SEC) adopted the Climate-Related Disclosure Rule after two years in the making. The rule will require large publicly traded companies to disclose #ClimateAction, #GreenhouseGasEmissions, and the financial impacts of severe weather events. Five major takeaways according to Forbes: 1. Scope 1 and Scope 2 reporting will be mandatory for larger publicly traded companies. 2. Scope 3 reporting has been removed. 3. The U.S. materiality standard does not change. 4. This rule requires disclosures to be filed with the SEC, not just posted. 5. Footnote requirements are reduced. Read more here: https://lnkd.in/epW-Pr4X #CompetentBoardsMovement #ExecutiveEducation #BoardEducation #ClimateChange #ClimateRisk #NetZero #NaturePositive