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On Monday the SEC released its long-awaited proposed rule changes that will require disclosure of climate-related risks that are reasonably likely to have a material impact on registrants. As noted in its press release, the SEC has focused on climate-specific rules in order to “provide investors with consistent, comparable and decision-useful information for making their investment decisions.”  In sum, the Proposed Rule would require listed companies to disclose information in four key areas: (1) governance…

The Securities and Exchange Commission (“SEC”) has taken a major step towards exercising its significant power to require companies to disclose greater information relating to ESG and climate impacts. On March 4, 2021, the SEC announced that it has formed a Task Force focusing on climate and ESG disclosure issues. The Task Force is a part of SEC’s Division of Enforcement and will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement.…