SEC Panel Backs Climate Plan as Peirce Bemoans Cost (Corrected)

The SEC’s advisory panel on investor issues on Wednesday endorsed the agency’s plans to require companies to publicly report their greenhouse gas emissions—including the disclosure of indirect emissions.

Scope 3 emissions from supply chains and other indirect sources matter to investors, Brian Hellmer, a member of the Securities and Exchange Commission’s Investor Advisory Committee, said. His remarks came shortly before the panel recommended that the SEC move forward with the climate reporting proposal it released in March.

“That’s a reasonable thing to ask companies to do given the importance of Scope 3 emissions to many of their business models ...