Brazilian companies making IPOs in the US must disclose environmental impact data – poca Negócios

Brazilian companies making IPOs in the US must disclose environmental impact data - poca Negócios

Proponents of the proposal say transparency will hold companies accountable for their role in climate change (Photo: Shutterstock)

seconds (Securities and Exchange Commission)North American capital markets regulator, announced today climate disclosure Which are also valid for Brazilian companies listed abroad. According to the enactment of the proposal, every company listed on a stock exchange in the United States must disclose data on the effect of Climate change, The idea is that, well-informed, investors decide whether or not they want to keep their money in the company.

The rule includes at least three information disclosure areas. In the first and second scopes, publicly traded companies must annually report the direct impact of their primary activities on the climate, taking into account any indirect impacts on the environment resulting from the products they manufacture and use of electricity or transportation. keeping in ,

The third scope is much broader and more complex, as it involves accessing and calculating the carbon footprint of all suppliers, business travel and equipment leased by the company. But the SEC intends to be more flexible in this matter, allowing companies to choose what information they want to disclose to investors.

Proponents of the proposal say the transparency required by the rule will hold companies accountable for their role in climate change and give investors greater leverage for changes in business practices. “This will make it possible for all stakeholders, including shareholders, to put pressure on companies to take real action,” he said in a report. the new York Times Activist Bill Weihl, once Google’s head of green energy and Facebook’s director of sustainability.

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The proposal will go up for public consultation for 60 days. If enacted, it would establish a framework for companies to provide information on climate-related risks in their annual reports and share registration details.

Conflict

The proposal has already provoked opposition from some business groups and could be challenged in court, delaying its implementation. As the Times reports, most of the criticism has focused on the extent to which emissions-related data falls within the agency’s jurisdiction.

Republican Representative Patrick T. McHenry of North Carolina called the proposal “deaf and misguided” and said climate risk was not a significant issue for most companies. “The Biden administration is pushing its climate agenda through financial regulators because they don’t have the votes in Congress to pass it,” he said.

However, many companies have begun disclosing information about their greenhouse gas emissions even before the rules came into force. The SEC estimates that a third of the 7,000 corporate annual reports reviewed in 2019 and 2020 include disclosures of climate impact.

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About the author: Sarah Gracie

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