Publications

Existing SEC Requirements Serve as the Baseline for Climate Change Risk Disclosure

April 2010
American Bar Association Environmental Disclosure Committee Newsletter

Three years ago, the U.S. Supreme Court issued the much anticipated Massachusetts v. EPA decision and provided some clarity as to the federal government’s authority to regulate greenhouse gas (GHG) emissions under the Clean Air Act (CAA). Massachusetts v.EPA, 415 F.3d 50 (2007). Although the facts of Massachusetts v. EPA were limited to tailpipe GHG emissions, commentators predicted that this decision would spawn a wave of legislation and regulations directed at controlling GHG emissions and addressing climate change issues. Commentators expected that regulations imposing GHG disclosure requirements would be issued to provide regulators, industry, and the public with a more complete picture of the nation’s reliance on fossil fuels and GHG emission levels.