SEC Division of Corporation Finance William Hinman emphasized the merits of a principles-based approach to disclosure.
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SEC Acting Chair Allison Herren Lee requested public comment on climate change-related disclosure, and reaffirmed her commitment to the development of an effective environmental, social and governance disclosure framework.
SEC Acting Chair Allison Herren Lee directed the SEC Division of Corporation Finance to review and update its 2010 guidance on climate change-related disclosure in public company filings.
SEC Division of Corporation Finance Acting Director John Coates issued a statement on the need to develop both adaptive and innovative environmental, social and governance disclosure requirements.
In new guidance contained in a Staff Legal Bulletin, the SEC Division of Corporation Finance rescinded previous guidance and narrowed corporate boards' ability to exclude proposals related to matters of "significant social policy" from a company's proxy statement.