Arnold & Porter Discusses California’s Corporate Emissions Disclosure and Climate-Risk Reporting Legislation

By Yuvaraj Sivalingam August 31, 2023 by renholding

The California legislature returned from summer recess two weeks ago, and two key bills regarding corporate emissions disclosures and climate-related financial risk reporting are being considered and could be sent to the governor’s desk for signature by next month.

Senator …

New California Legislation Would Be a Major Step Forward for Climate Disclosure

By Michael B. Gerrard and Eric W. Orts July 20, 2023 by renholding

The Securities and Exchange Commission regulations on climate disclosure, first proposed in March 2022 and likely to be issued in final form in October 2023,[1] have drawn considerable controversy and face an uncertain fate in the inevitable litigation.[2]…

Climate Disclosure Line-Drawing and Securities Regulation

By Virginia Harper Ho March 27, 2023 by renholding

In 2022, the Securities and Exchange Commission (SEC) proposed climate disclosure rules requiring each public company to tell investors specifically about the financial effects of climate risk on the company and how the company assesses those risks. The rules will …

Baker McKenzie Discusses the Evolving Securities Legal Framework of ESG Issues

By Paul Chander, Perrie Weiner and Aaron Goodman August 25, 2022 by renholding

In 2021 and 2022, as the market continued to focus increasingly on environmental, social, and governance (“ESG”) issues, government financial regulators across many independent agencies strongly indicated that increased enforcement relating to ESG is on the horizon, while private plaintiffs …

Davis Polk Discusses Key Takeaways for Banks of Basel Climate Report

By Margaret E. Tahyar, Luigi L. De Ghenghi, Randall D. Guynn, Eric McLaughlin and Gabriel D. Rosenberg August 8, 2022 by renholding

Here are the key takeaways from the Basel Committee’s final Principles for the Effective Management and Supervision of Climate-Related Financial Risks (the “Basel Principles”).

The core elements of the Basel Principles align closely with proposed principles from the OCC and

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The Limits of Enlightened Shareholder Activism

By Virginia Harper Ho April 6, 2022 by renholding

One of the more visible market shifts over the past decade is the rise of what might be called “enlightened shareholder activism” – the use of shareholders’ governance rights to encourage corporations to take action around environmental, social, and governance …

SEC Chair Gensler on Proposed Mandatory Climate Risk Disclosures

By Gary Gensler March 22, 2022 by renholding

Today [March 21], the Commission is considering a proposal to mandate climate-risk disclosures by public companies. I am pleased to support today’s proposal because, if adopted, it would provide investors with consistent, comparable, and decision-useful information for making their investment

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SEC Commissioner Peirce Criticizes Proposed Mandatory Climate Risk Disclosures

By Hester M. Peirce March 22, 2022 by renholding

Thank you, Chair Gensler. Many people have awaited this day with eager anticipation. I am not one of them. Contrary to the hopes of the eager anticipators, the proposal will not bring consistency, comparability, and reliability to company climate disclosures.

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Latham & Watkins Discusses New CFTC Climate Risk Unit

By Yvette D. Valdez, Douglas K. Yatter, Jean-Philippe Brisson, Paul A. Davies and Nicola Higgs March 31, 2021 by snehapandya

On March 17, 2021, the Commodity Futures Trading Commission (CFTC) announced the establishment of an interdivisional Climate Risk Unit (CRU) to assess the risks to US financial stability posed by climate change. The CRU aims to be a catalyst for …

Market Myopia’s Climate Bubble

By Madison Condon March 9, 2021 by renholding

A growing number of financial institutions, from BlackRock to the Bank of England, have reached the conclusion that markets are not accurately assessing climate change-related risks. European Central Bank President Christine Lagarde recently warned that central bankers “will have to …

Columbia’s Millstein Center Presents Global Investor-Director Survey on Climate Risk Management

By Jens Frankenreiter, Sophie L’Hélias, Nina Hodzic, Sneha Pandya and Eric Talley October 30, 2020 by snehapandya

Changes in the global climate are having profound impacts on business operations, governance, and organizational management around the world. Boards of directors are searching for ways to account for these changes as they help guide their organizations, and investors are …

The Results Are in: Global Investor-Director Survey on Climate Risk Management

By The Millstein Center and LeaderXXchange February 14, 2020 by renholding

Institutional investors are increasingly focused on “extra-financial performance” as a predictor of long-term success of companies. Topics like climate change, CO2 emissions reduction, respect for the environment, labour rights, and diversity are more and more factored into investment decisions.

Investors, …

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