New corporate climate change disclosures proposed by SEC

By MARCY GORDON
AP Business Writer

WASHINGTON (AP) — Companies would be required to disclose the greenhouse gas emissions they produce and how climate risk affects their business, under new rules proposed by the Securities and Exchange Commission. The proposed rules are part of a drive across the government to address climate change. Under the proposals, public companies would have to report on their climate risks, including the costs of moving away from fossil fuels. They would be required to lay out their transition plans for managing climate risk, how they intend to meet climate goals and progress made, and the impact of severe weather events on their finances.