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Reuters: Writing On the Wall for U.S. Companies with SEC’s Tough New Rules on Reporting ESG & Climate Risk

Written by Atul Vashistha

SEC's upcoming ESG and Climate Risk disclosures

After a considerable delay, the U.S. Securities and Exchange Commission (SEC) has finally arrived at the climate disclosure party, helping bring the United States in step with other jurisdictions, including the European Union, the UK, Canada, China and Japan.

Its recently released proposals, which are under consultation until May, call for businesses to disclose how they identify and manage climate risks, and how those risks will affect the company; what they are doing in terms of scenario analysis; and how the board oversees climate risk.

Importantly, companies with revenues of more than $75 million will have to report on not just their Scope 1 and 2 emissions (those that derive from their own operations) but also Scope 3, which covers emissions from their supply chains and customers.

In this article for Reuters, Mike Scott talks to experts about what this means for US companies. Atul Vashistha, Chairman and CEO, Supply Wisdom shares his views on supply chain visibility gaps and why addressing them is critical to ensure resilience in the long term.