SEC Backs Off Supply Chain Emissions Reporting Requirement

The Securities and Exchange Commission has approved a new climate disclosure requirement after two years of consideration. Manufacturers got a win in the new proposed rule as requirements for scope 3 emissions disclosure, a rule that would have required manufacturers to report all emissions within their supply chain, were removed from the final rule. The rule also exempted smaller companies from reporting emissions related to on-site operations.

The OMA joined industry groups to oppose that provision amongst other burdensome proposals.

Despite this positive development, the rule will still provide new compliance burdens on manufacturers. The National Association of Manufacturers is offering a webinar on March 14 for members to gain a comprehensive understanding of the new regulations. 3/6/2024