SEC Backs Climate Change Guidance For Public Cos.

Law360, New York (January 27, 2010, 6:42 PM EST) -- In a move championed by certain shareholder activists and environmental groups, a divided U.S. Securities and Exchange Commission voted Wednesday to provide public companies with interpretative guidance on existing disclosure requirements as they relate to climate change.

SEC Chairwoman Mary Schapiro, who was one of three Democrats to vote in favor of the interpretative release, said it would not create new legal requirements or modify existing ones, and that it was merely intended to provide clarity and enhance consistency.

“The commission is ... not considering amending...
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