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On March 21, the SEC published a widely anticipated proposed rule addressing companies’ climate-related disclosures.

Heather Horn was joined by Kyle Moffatt and Valerie Wieman, partners in PwC’s National Office, to discuss the main provisions of the proposal and a few of what could be challenging compliance requirements.

In this episode, you will hear:

• 1:20 - Elements of the proposal that surprised our guests
• 4:29 - The evolution of climate disclosure rules leading to the current proposal
•  6:52- Background on development of the proposal, and controversy among the commissioners regarding the rules
• 10:53 - Overview of the contents of the proposal
• 18:56 - Current expected timelines of adopting a final rule and transition timing
• 26:11 - Greenhouse gas disclosures requirements, and the types of emissions that are in scope
• 38:09 - Overview of the comment letter process and the path to finalization of the rule
• 48:21 - Final thoughts on where companies can start on unpacking the proposal and preparing for a final rule

Want to learn more? Read the proposed rules, Enhance and Standardize Climate-Related Disclosures for Investors, the related fact sheet, and our In brief, First look at the SEC's climate disclosure proposal. Also, refer to our recently updated In the loop which now includes SEC comments under the existing climate rules.

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.

Valerie Wieman is PwC’s National Office Editor-in-chief. She is involved in the creation, development, and publication of our brand-defining thought leadership, with a recent focus on ESG reporting. Prior to this role, she was part of PwC’s National Office SEC Services group, helping clients navigate SEC rules and regulations.

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.

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