SEC Climate Change Reporting and a Unified Risk Management Process

Compliance into the Weeds

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6M ago 21:37

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The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to more fully explore a subject. Looking for some hard-hitting insights on compliance?

Look no further than Compliance into the Weeds!

In this episode, Tom and Matt take a deep dive into the recent SEC climate reporting rules and how this could lead to a unified risk management process.

The topic of the recently proposed SEC climate change reporting rule, which requires companies to disclose their greenhouse gas emissions and climate-related risks, raises intriguing discussions across various sectors. This rule emphasizes the importance of transparency, necessitating companies to adapt their risk disclosure frameworks to encompass a range of risks, including cybersecurity, climate change, anticorruption, and financial reporting.

Tom sees this rule as a much-anticipated development with significant implications for companies. He advocates for a comprehensive risk management strategy that aligns with the SEC’s push for holistic risk disclosures, taking into consideration the continuous relevance of climate change regulations at multiple levels. On the other hand, Matt acknowledges the significant challenges and changes that the rule has encountered, particularly litigation from both oil and gas interests and environmental groups. Despite the legal and political uncertainties, he underscores the importance of prioritizing climate change disclosures, given the existence of similar rules in California and Europe.

Key Highlights:

Climate risk disclosure mandates for companies
Enhancing transparency in risk management
A theory of unified risk management
What does all this mean for compliance and the compliance professional?

Resources:

Matt on Radical Compliance

Tom

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