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12th April 2022

 

Many corporations disclose information on climate risks when releasing important information, but investors frequently struggle to draw comparisons. The Securities and Exchange Commission attempted to address this on Monday by requiring corporations to report greenhouse gas emissions from their activities as well as energy use and to acquire independent validation of their estimates. The proposal will be open for public comment for at least 60 days before the SEC begins drafting a final regulation.

 

Bitcoin supporters at one of the year's largest bitcoin conferences offered a variety of responses to the pressure to make bitcoin mining more environmentally friendly, including proposed regulatory requirements to disclose greenhouse-gas-emissions estimates and climate-change risks, demonstrating division and tensions within the bitcoin community.

 

Speakers said that anticipated rules from the United States Securities and Exchange Commission, in particular, represent an additional layer of undue pressure. Last month, the SEC proposed requiring publicly listed corporations to report greenhouse gas emissions from their activities as well as the energy they consume and to receive independent validation of their estimates. Companies claimed the proposed regulation would undoubtedly increase their compliance expenses.

 

Companies would be required to include independent assurance—typically from a consulting or audit firm—that the emissions information from their activities as well as from energy, steam, heating, or cooling are correct under the plan. 

 

Source: WSJ

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