Amazon, Chevron Push SEC to Curb Climate Reporting Liability

Companies bracing for mandatory climate change reporting want the SEC to keep those disclosures out of their annual 10-Ks and other documents exposed to potentially higher legal liability.

Amazon.com Inc., Chevron Corp., and Walmart Inc., as well as some mutual and pension fund groups, are seeking the Securities and Exchange Commission’s flexibility on environmental, social, and governance disclosures amid concerns that reporting missteps could spark shareholder litigation and other legal troubles.

“Given that climate disclosures rely on estimates and assumptions that involve inherent uncertainty, it is important not to subject companies to undue liability, including from private ...