Missed Opportunities: How SECs Watered-Down Climate Rules Protect Fossil-Fuel Interests

The US Securities and Exchange Commission's (SEC) new climate disclosure rules require public companies to report their greenhouse gas emissions and climate risks. However, intense lobbying led to the weakening of these regulations, allowing companies significant leeway in determining what is "material" and excluding upstream and downstream emissions from their suppliers and customers. While a step forward, the rules fall short of driving substantial corporate action needed to address climate change effectively.