Key points

On 21 March 2022, the Securities and Exchange Commission (‘SEC’) issued proposed new disclosure requirements to address the need for entities to explain the risks and impact of climate change.
What is the issue?
The proposed rule amendments will require a domestic registrant, or most foreign registrants, to include certain climate-related information in their registration statements and periodic reports, such as on Form 20-F; these include:
  • climate-related risks and their actual or likely material impacts on the registrant’s business, strategy and outlook;
  • the registrant’s governance of climate-related risks and relevant risk management processes;
  • the registrant’s scope 1 and scope 2 greenhouse gas (‘GHG’) emissions which, for accelerated and large accelerated filers and with respect to certain emissions, would be subject to assurance;
  • certain climate-related financial statement metrics and related disclosures in a note to the registrant’s audited financial statements; and
  • information about climate-related targets and goals, and transition plan, if any.
We have a more detailed In brief here on the US Viewpoint site; in addition, a podcast issued on 25 March 2022 will provide more detailed information from the 510-page proposal.
Where do I get more details?
To have a deeper discussion, contact:
Heather Horn
Email: heather.horn@pwc.com
Kyle Moffatt
Email: kyle.moffatt@pwc.com
Valerie Wieman
Email: valerie.wieman@pwc.com
For more PwC accounting and reporting content, visit us at viewpoint.pwc.com. On the go? Take our PwC accounting podcast series with you at the Viewpoint podcasts page or wherever you listen to your podcasts.

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