Yesterday, the SEC published its Fall 2023 RegFlex Agenda for the next 12 months’ regulatory schedule – which includes an update on the climate disclosure rule. The new estimated date for SEC final action on climate disclosure is… (drum roll, please): April 2024. Final action on the rule for investment companies and investment advisers related to ESG factors, claims and related disclosures is scheduled for April 2024 as well. We always caution that these dates are not written in stone and can change – as we have seen already. It could happen sooner, but as of yesterday, there are no Open Meetings on the Commission’s schedule for a vote.
There were rumors that something would happen in the next week or so with the climate disclosure. With COP28 in full swing, that timing would make sense. Plus, those who are superstitious know that things come in threes: we’ve seen EPA issue a methane rule and the CFTC issue guidance on voluntary carbon markets – the SEC could have been number 3. Maybe the EPA cost of greenhouse gas emissions was number 3?
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