New SEC climate rule leaves progressives wanting more

Read the full story at The Hill.

The Securities and Exchange Commission (SEC) took a long-sought step this week by proposing to require that publicly traded companies disclose their direct and indirect climate change contributions, but advocates are pointing to loopholes they say the firms could exploit.

While the proposal would require a company to disclose all of its direct emissions, it only required them to disclose indirect emissions — those from its supply chains and the use of its products — when they are “material” to investors.

Progressives expressed concerns that the rules could leave it up to companies to decide whether to reveal these emissions, which, depending on the industry, can make up a major proportion, or even a vast majority, of their climate contributions. 

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