May 11, 2022

SEC Extends Comment Period for Proposed Climate-Related Disclosures

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SEC EXTENDS COMMENT PERIOD FOR PROPOSED CLIMATE-RELATED DISCLOSURES

The SEC announced on May 9, 2022 that it has extended the public comment period on its proposed rules for climate-related disclosures until June 17, 2022. As noted in our prior publication regarding the proposed climate-related disclosure framework, the SEC has requested comments on 201 enumerated questions, many of which contain several sub-questions. The proposed rule for climate-related disclosures would have wide-ranging implications for companies’ disclosure requirements and internal procedures.

In its release, SEC Chair Gary Gensler stated that the extension provides “the public with additional time to comment on three proposed rulemakings that have drawn significant interest from a wide breadth of investors, issuers, market participants, and other stakeholders.” The SEC is also seeking comments on the proposed new cybersecurity disclosures rules and the proposed new SPAC rules, which we have covered in prior publications. The comment periods for these additional rulemakings remain unchanged.

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