Manatt Energy and Environment Partner David Smith was quoted in Semafor on upcoming changes to standards for corporate climate disclosures both in the European Union and the United States.
New disclosure mandates are on the horizon for many companies between two disclosure bills in California, new standards in the EU and U.S. Securities and Exchange Commission rules expected to be finalized next month. Smith said these, combined with firm-level emissions data, “will be the baseline from which further reductions are mandated.”
The California bills would apply to any business that has dealings in California and would apply to their global operations, Smith said. If these bills are finalized, they could force disclosure mandates on companies across the world.
“I don’t think the consequences and precedent can be understated,” Smith said. “It’s huge, and it’s crazy how few people in the corporate world realize how close these are.”
Read the full Semafor article here.