The ESG register · United States

SEC Climate-Related Disclosures Rule

Climate risks, governance and certain emissions in registration statements and annual reports. The SEC stayed application pending litigation.

Identifier

Release Nos. 33-11275, 34-99678 — 89 FR 21668

Status

stayed

Applies

2024-03-06

Supervisor

U.S. Securities and Exchange Commission

Who is covered

Companies registering securities or reporting periodically to the SEC, including foreign private issuers.

Requirements in the text

• Regulation S-K Item 1502

  Material climate-related risks

  The registrant must describe climate-related risks that have materially affected or are reasonably likely to materially affect strategy, results of operations or financial condition, split between physical and transition risks and between short and long term. The description covers governance of those risks, identification and management processes, and any scenario analysis or internal carbon price used.

  Example — An insurer describes rising hurricane exposure in the Gulf as a material physical risk and discloses the scenario analysis behind an increased reinsurance budget.

• Regulation S-K Item 1505

  Scope 1 and 2 emissions for larger filers

  Larger registrants must disclose scope 1 and scope 2 emissions where material, in gross terms and without offsetting against credits, stating methodology, organisational boundary and any estimates. Disclosure is accompanied by attestation on the stated phase-in, beginning at limited assurance. Filings may use the lag the rule allows.

  Example — An industrial group reports 512,000 tonnes of scope 1 and 88,000 tonnes of market-based scope 2, states where estimates were used and attaches the attestation report.

• Regulation S-X Article 14

  Climate notes in the financial statements

  In the notes to the financial statements the registrant must disclose costs and losses from severe weather events and other natural conditions where amounts exceed the stated thresholds. Amounts relating to carbon offsets and renewable energy credits must also be disclosed where used as part of climate targets. The notes fall within the financial statement audit and internal control.

  Example — A food group discloses 41 million dollars of flood damage at a distribution facility as a separate line in the climate note.

Counterpart in the other regime

• CSRD · EU · Direktiv (EU) 2022/2464 — CELEX 32022L2464
• ESRS · EU · Delegerad förordning (EU) 2023/2772 — CELEX 32023R2772

Official source — Federal Register, 89 FR 21668 · read 2026-09-01 · Climate and sustainability reporting