Energy & Environment — SEC finalizes weaker climate disclosure rule

Presented by Panasonic — The federal government will require some of the largest publicly traded companies to disclose their levels of greenhouse gas emissions under a new rule.

View Online Energy & Environment Energy & Environment   PRESENTED BY  The Big Story  SEC finalizes weakened climate disclosure rule The federal government will require some of the largest publicly traded companies to disclose their levels of greenhouse gas emissions under a new rule from the Securities and Exchange Commission (SEC). © AP Photo/Michael Probst The SEC voted 3-2 on Wednesday to require large companies to tell investors about greenhouse gas emissions directly caused by their business if that information would be likely to influence someone's decision on whether to invest.   SEC Chair Gary Gensler, Commissioner Caroline Crenshaw and Commissioner Jaime Lizárraga — all Democrats — voted in favor of the rule, while Republican Commissioners Hester Peirce and Mark Uyeda voted against it.   The rule will also require all publicly traded companies to disclose ways in which climate change poses significant risks to their business.   The rule represents a massive — and contentious — step in terms of what companies are required to tell potential investors about their vulnerability and contribution to climate change.   But it is significantly scaled back from what the agency proposed in 2022. That rule would have required all public companies to disclose their direct emissions and also made some companies report emissions from their supply chains and the use of their products.   Instead, as part of an effort to lighten the burden for companies, the SEC will only make large and midsize companies report their emissions that come from generating the electricity a company uses. They'll have to report emissions for their fiscal years that start in 2026 and 2028, respectively.   Read more at TheHill.com. Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. Did someone forward you this newsletter? Subscribe here. Essential Reads  How policy will affect the energy and environment sectors now and in the future: Puerto Rico waits anxiously for EPA power plant approval Puerto Rico's leadership is growing nervous waiting for pending federal permits to operate two sets of power generators that are propping up the island's fragile electrical infrastructure.  Full Story 24 states sue EPA over air pollution limit A group of 24 states with Republican attorneys general sued the Biden administration on Wednesday over a rule aimed at limiting deadly air pollution.   Full Story Republican lawmakers suggest Podesta appointment unlawful without Senate confirmation Top Republicans on the House Energy and Senate Environment committees suggested in a letter to the White House on Wednesday that President Biden's replacement of special climate envoy John Kerry with John Podesta is unlawful without Senate confirmation under a 2021 law.  Full Story House approves spending package to avert shutdown The House on Wednesday approved a package of six spending bills, sending the legislation to the Senate days ahead of Friday's partial government shutdown deadline.  Full Story In Other News  Branch out with a different read from The Hill: Upper Colorado River Basin states push for long-term guidelines based on real-time water conditions The Colorado River's Upper Basin contingent sent the federal government a proposal Wednesday outlining its vision for the watershed's long-term management as talks among all seven of the region's states … Full Story A MESSAGE FROM PANASONIC Panasonic is supporting jobs, communities and a brighter future for everyone. At Panasonic Energy, we set out each day to change the world by accelerating the transition to sustainable energy through the production of safe, high-quality lithium-ion batteries. And this is just the beginning. Learn more. What We're Reading  News we've flagged from other outlets touching on energy issues, the environment and other topics: Industry poisoned a vibrant Black neighborhood in Houston. Is a buyout the solution? (Grist)   Barrasso probes DOE meetings with Chinese officials (The Washington Examiner) EPA proposes Superfund site within 150 miles of upper Columbia River (The Seattle Times) On Tap  Upcoming news themes and events we're watching: The House Natural Resources Committee will hold a hearing Thursday titled "Monetizing Nature and Locking up Public Land: The Implications of Biden's Strategy for Natural Capital Accounting." What Others are Reading  Two key stories on The Hill right now: Defense attorney details Fani Willis relationship probe to Georgia Senate committee A Republican-led Georgia state Senate panel gave the floor Wednesday to a defense attorney who surfaced allegations of a romance between Fulton County District Attorney Fani Willis (D) and a special prosecutor in former President Trump's 2020 election interference case.  Read more Democrats ready to hit panic button in Trump-Biden race Democrats are beginning to hit the panic button as an implosion in former President Trump's campaign fails to materialize and a series of polls suggests President Biden is weaker than he was four years ago. Read more   You're all caught up. See you tomorrow!  Check out The Hill's Energy & Environment page for the latest coverage. Like this newsletter? 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