SEC Presses Companies on Climate Risk With New Rules on Horizon

Wall Street’s top regulator is pushing companies to reveal in their financial statements more details about the impact of climate change as the agency eyes finalizing its much-watched climate disclosure rules.

Securities and Exchange Commission staff who regularly review corporate filings have sent climate-related queries to more than a dozen large companies over the past three months, according to a Bloomberg Tax review of securities filings.

The regulator has pressed businesses such as Estée Lauder Companies Inc., Oracle Corp., Eli Lilly & Co., and others to divulge why their annual financial reports contain less information about climate ...