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We sat down with a PwC National Office specialist and a law firm partner, both SEC alum, to discuss the SEC's proposed rules on climate disclosures.
On March 21, the SEC published a widely anticipated proposal to enhance companies’ climate-related disclosures.
In our third episode on the SEC's proposal, Heather Horn was joined by Kyle Moffatt, partner in PwC’s National Office, and John White, who is a partner in the law firm Cravath, Swaine & Moore and former Director of the Division of Corporation Finance at the SEC. Heather, Kyle, and John take a deeper dive into some of the key accounting, legal, and regulatory questions that registrants may have.
In this episode, you will hear:
  • 1:47 - Perspectives on marketplace reactions to the proposal
  • 6:03 - The challenges of defining climate-related events and collecting related data
  • 9:17 - The various materiality considerations within the proposal
  • 11:32 - The factors that the SEC could weigh when evaluating comments on the proposal
  • 18:03 - Legal perspective: understanding the SEC’s authority to enforce rules
  • 28:15 - How the proposed rules differ in design and impact from a Staff Accounting Bulletin
  • 32:15 - How companies can start to address the proposed rules, beginning with board-level considerations
  • 39:52 - The importance of data quality for readiness, and final words of advice
Want to learn more? Read the proposed rules: The Enhancement and Standardization of Climate-Related Disclosures for Investors and the related fact sheet.
About our guests
Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in 2020 after spending almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.
John White is a partner at Cravath, Swaine & Moore LLP, and chair of that firm’s Corporate Governance and Board Advisory practice. He represents public companies on a variety of disclosure matters, including corporate governance, reporting, financings, and restatements. With over fifty years of experience, he previously served as the Director of the Division of Corporation Finance at the SEC and on the board of Financial Executives International. John is a current member of FASAC, and member of the Board of Trustees of Practising Law Institute where he also serves as chair of the audit committee.
About our host
Heather Horn is PwC’s National Office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series. With over 30 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to

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