SEC Chair Addresses Details of Potential New U.S. Climate-Related Disclosure Rules: SEC Chair Gary Gensler Expects Staff Will Propose Mandatory Climate Risk Disclosure Rules to Commission by Year-End

Sullivan & Cromwell LLP - July 29, 2021

In a speech delivered on July 28, 2021, U.S. Securities and Exchange Commission Chair Gary Gensler gave certain insights into the SEC’s approach to crafting new rules that would require SEC registrants to disclose information on climate-related risk. The new rules — a draft of which he expects by year-end — will aim to meet what he described as investors’ request for “consistent, comparable and decision-useful disclosures.” The anticipated rules would be a major change from the SEC’s existing principles-based approach set out in its 2010 guidance on climate risk disclosure.

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