Climate Change Risks: Corporate Disclosure Requirements

Description

The U.S. Securities Exchange Commission (SEC) adopted new interpretive guidance on Jan. 27, 2010, that clarifies the information public companies must disclose to shareholders about the impacts of climate change on their business operations. The SEC stated there are four topics companies should evaluate.

When drafting their disclosures, companies should evaluate the impact of climate change legislation, regulation and international accords; the actual and potential physical effects of climate change; and the actual and potential indirect consequences of climate change regulation.

Companies currently preparing their Form 10-K annual reports should carefully review and understand the SEC’s new interpretive guidance to ensure compliance with the disclosure requirements.

Listen as our authoritative panel of environmental law attorneys examines the new SEC guidance, discusses the significance of the guidance, in terms of what it states and what it may signal, and offers strategies to meet new disclosure requirements and expectations.

Outline

1. SEC Guidance
   1. Disclosure requirements
   2. Areas where climate change may trigger disclosure requirements
2. Strategies for meeting disclosure requirements
   1. Internal controls and procedures relating to climate change
   2. Voluntary v. mandatory climate risk reporting
   3. Determining what risks should be disclosed
   4. Developing policies and procedures to inform management and directors regarding climate issues
3. Other related trends
   1. Recent settlements with New York Attorney General

Benefits

The panel will review these and other key questions:

• What areas does the guidance highlight as examples of where climate change may trigger disclosure requirements?
• What climate change risks are companies required to disclose under current state and federal laws and regulations?
• When does climate change risk constitute new "material" risks and opportunities for companies that require reporting under current SEC regulations?
• What steps can companies and counsel take to minimize the risk that more extensive disclosures will expose them to in civil litigation?

Webinar/Teleconference

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CLE Credit

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