SEC Climate Disclosure Rules: Board Oversight Requirements

PwC In-Depth (Apr 11, 2024) "SEC Climate Disclosure Rules: Board Oversight Requirements" walks through SEC item S-K 1501 (Governance) requirements: registrants must describe management's role in assessing and managing climate-related risks and the board's role in overseeing those risks. Boards must identify any board committee or subcommittee responsible for climate-risk oversight and describe how the board or that committee is informed about plans; and disclose whether and how the board oversees progress against disclosed climate-related targets, goals or transition plans. Specific responsibilities may sit with the nominating/governance committee, a sustainability committee, the full board, or the audit committee for disclosure controls. Useful structuring frame for SEA mid-market boards moving from voluntary disclosure to mandatory.