In a public statement
issued on February 24, 2021, Acting Securities and Exchange Commission (“SEC”) Chair Allison Herren Lee announced that she is directing the staff of the SEC’s Division of Corporation Finance (the “Staff”) to increase its focus on climate-related disclosures by public companies. The statement directs the Staff to: (i) review the extent to which public companies address the topics in the SEC’s 2010 Commission Guidance Regarding Disclosure Related to Climate Change (the “2010 Guidance
”) and otherwise comply with related disclosure obligations under federal securities laws, (ii) engage with registrants on climate disclosure issues (e.g., through the Staff’s review of public filings), and (iii) make efforts to explore how public markets are managing risks relating to climate change. The insights from this review will then be used to update the 2010 Guidance.