Paul Weiss’s “SEC Poised to Consider ESG Disclosure” is instructive as respects the sources and limitations of the SEC’s rulemaking authority generally. The memo notes widely divergent views on mandated non-material climate change disclosure based on input received to date in response to former SEC Acting Chair Allison Herren Lee’s request for input, and suggests ways in which the sources and limits of authority may apply to climate or ESG-related disclosure rulemaking, specifically.
See also: Wachtell Lipton’s “The SEC’s Regulation of ESG Disclosures” (CLS Blue Sky Blog), “SEC Wants More Climate Disclosures. Businesses Are Preparing for a Fight” (WSJ), “SEC Assesses ESG Disclosure Gaps” (Traders Magazine), and “SEC Commissioner Urges Greater ESG Disclosure” (Cadwalader Cabinet). This post first appeared in the weekly Society Alert!