SEC takes up narrower climate disclosure rule after heavy pushback from companies, others

By SUMAN NAISHADHAM
Associated Press

WASHINGTON (AP) — The U.S. Securities and Exchange Commission has weakened a proposed climate disclosure rule after strong pushback from companies and others. It will no longer require companies to report some greenhouse gas emissions. Ahead of a planned vote by commissioners Wednesday, the SEC said the final version would not include requirements to report some indirect emissions known as Scope 3. Those don’t come from a company or its operations, but happen along its supply chain — for example, in producing the fabrics to make a retailer’s clothing — or that result when a consumer uses a product, such as gasoline. It’s one of the most anticipated rules in recent years from the nation’s top financial regulator. Companies have complained that quantifying such emissions would be difficult.