NEW YORK, Jan. 29 /PRNewswire/ -- On Wednesday, the SEC voted to encourage companies to disclose the effects of climate change on their businesses. In response, PricewaterhouseCoopers (PwC) U.S. Sustainability and Climate Change Partner, Kathy Nieland, issued the following statement for the benefit of companies seeking to address this question:
The growing movement around investors' need for more climate change related disclosure is at the core of this week's SEC announcement that it will release interpretive guidance for these types of disclosures. SEC interpretive releases provide clarity and enhance consistency for public companies and their investors, and do not create new, or modify existing legal requirements. While many organizations have begun to disclose information through voluntary programs, the stakes become higher whenever information is included in public regulatory filings. Companies need to evaluate their enterprise wide systems and ensure that processes are in place to maintain and report upon significant climate change related risks, challenges and information.
PwC serves as global advisor and report writer to the Carbon Disclosure Project, an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world. Companies submit data directly to CDP which, in turn, sends it to PwC for analysis and production of a flagship report on Global 500 companies, together with the reports on the U.S. S&P 500, the UK FTSE 350. PwC also works with CDP as a strategic adviser, offering support and expertise on areas such as carbon emissions and climate risk reporting, carbon accounting systems and data verification.
In a recent report entitled, "10Minutes on Monetizing Carbon," PwC has also offered a set of best practices for larger companies required to explain their position and performance in emissions and climate change. The report looks at what companies can do to prepare for a broader trend toward putting a price on greenhouse gas emissions, and is available here:
PwC has also published a paper on managing carbon as an asset, which considers the fact that Cap-and-Trade systems already impact US companies, but many financial questions remain unanswered. PwC Carbon Asset Management
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