In Financial Times Sustainable Views, Michael Littenberg Examines Pending SEC Climate Disclosure Rules

In The News
August 24, 2023

The U.S. Securities and Exchange Commission is expected to adopt climate disclosure rules this fall. In a Financial Times Sustainable Views article, partner Michael Littenberg, global chair of the ESG, CSR and business and human rights practice, said it’s expected that the SEC will scale back the proposed rules in some respects, both in response to feedback and with a view to increasing the likelihood that the final rules will survive a legal challenge.

Michael notes that even if the SEC proposal is scaled back or the rules do not survive a legal challenge, developments at the state level could still have a significant impact. For example, California and New York are seeking to adopt climate disclosure rules separate from the SEC, with proposals that are in some ways broader than the SEC’s. “Even if the SEC rules survive challenge, expect additional state regulation in this area,” said Michael.