On March 6, 2024, the SEC approved with a 3-to-2 vote a long-awaited final rule that requires significant details about a registrant’s climate-related risks. While the SEC scaled back on many of the proposal’s mandates, added several materiality thresholds, and lengthened and staggered compliance dates, the changes may significantly increase reporting costs and complexity.
On April 5, 2024, the SEC stayed the rule to avoid regulatory uncertainty for companies that might have been subject to the rule as litigation proceeds. Forvis Mazars will continue to monitor these legal developments. This article provides details on the final rule, which would apply to all SEC reporting companies.
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