SEC Announces Final Ruling on Climate Disclosures: Key Dates and Terms to Know

On March 6, 2024, the SEC announced its final ruling on climate disclosure requirements. Learn the key terms you need to know and the timelines for compliance that are crucial for planning and adjustment within your organization.

Key Terms to Know

Mandatory Disclosures

The rule requires disclosure of climate-related risks, efforts to mitigate these risks, and their financial implications, underlining the importance of transparency for informed decision-making.

GHG Emissions Reporting

There is a requirement if material for registrants to report Scope 1 and Scope 2 greenhouse gas (GHG) emissions, highlighting the commitment to environmental responsibility.

Phase-In Periods

The rules will be phased in, offering different timelines based on the registrant type, to facilitate a smoother transition to compliance.

Compliance Timelines

Please note, "FYB" refers to any fiscal year beginning in the listed calendar year.

Large Accelerated Filers (LAFs)

• Disclosure and financial statement effects: FYB 2025
• GHG emissions (Scope 1 and 2) reporting: FYB 2026
• GHG emissions assurance (Limited): FYB 2029
• GHG emissions assurance (Reasonable): FYB 2033

For Accelerated Filers (AFs)

• Disclosure and financial statement effects: FYB 2026
• GHG emissions reporting: FYB 2028
• GHG emissions assurance (Limited): FYB 2031

For Smaller Reporting Companies (SRCs), Emerging Growth Companies (EGCs), and Non-Accelerated Filers (NAFs)

• Disclosure and financial statement effects: FYB 2027

Get Compliance Ready

We’re here to assist you in navigating these changes and making sure that your organization remains ahead in compliance and sustainability practices. If you have questions or would like more information, please reach out to our team using the contact form below.