Bill > S2075

This bill amends the Securities Exchange Act of 1934 to require public companies (referred to as "covered issuers") to annually disclose information about climate change-related risks and strategies to mitigate those risks. Key provisions include: - Defining key terms such as "physical risks," "transition risks," "greenhouse gas emissions," and "social cost of carbon." - Requiring covered issuers to disclose information on the identification, evaluation, and management of physical and transition risks posed by climate change, as well as their climate risk governance and resilience strategies. - Directing the Securities and Exchange Commission (SEC) to issue rules within 2 years establishing industry-specific climate risk disclosure guidance, reporting standards for greenhouse gas emissions and fossil fuel-related assets, and requirements to use a minimum social cost of carbon in their analyses. - Requiring the SEC to periodically update the disclosure rules and compile the reported information on a public website. - Providing a backstop option if the SEC does not issue rules within 2 years, allowing companies to follow the recommendations of the Task Force on Climate-related Financial Disclosures. - Directing the SEC and Government Accountability Office to report on the implementation and effectiveness of the new climate disclosure requirements. The overall goal of the bill is to improve transparency around the climate-related risks and opportunities faced by public companies, which Congress finds are material information that investors should have access to.

Housing and Urban Affairs

https://www.congress.gov/bill/116th-congress/senate-bill/2075/all-info