Tough new proposals to force companies to disclose their climate-related risks to investors in the US have been described as the Biden administration's most significant action so far on climate change.
The Securities and Exchange Commission (SEC), an independent US government agency, wants companies to reveal audited information on their greenhouse gas (GHG) emissions and any climate risks likely to have a "material impact" on their business.
The rules would require SEC-registered companies – including fashion retailers and brands – to disclose information about their direct greenhouse gas (GHG) emissions (Scope 1) and indirect emissions from purchased electricity or other forms of energy (Scope 2).
