Yesterday in the notice of upcoming meetings, the SEC (Securities and Exchange Commission, the US regulator of listed companies) announced that they would be talking Climate Change. Well, actually they said they would be talking about two items, and Climate Change came in second.
The SEC says that:
Item 2: The Commission will consider a recommendation to publish an interpretive release to provide guidance to public companies regarding the Commission's current disclosure requirements concerning matters relating to climate change.
This could be very big news, or it could be very bad news. No question that the results of this meeting will be seen as good by some and very bad by others. The notice can be found here:
http://www.sec.gov/news/openmeetings/2010/ssamtg012710.htm
My hope is that they will determine that indeed Climate Change does rise to the standard of a "known trend" that will have a direct impact on businesses, and therefore companies will be required to specifically comment in their Management Discussion and Analysis (under Reg S-K).I believe that Reg S-K already provides adequate justification to require such reporting, and have written such before. A detailed discussion can be found here.
So, I'm looking forward to next week with anticipation.
My hope is that they will determine that indeed Climate Change does rise to the standard of a "known trend" that will have a direct impact on businesses, and therefore companies will be required to specifically comment in their Management Discussion and Analysis (under Reg S-K).I believe that Reg S-K already provides adequate justification to require such reporting, and have written such before. A detailed discussion can be found here.
So, I'm looking forward to next week with anticipation.
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