The U.S. Securities and Exchange Commission’s (SEC) recent supply chain climate disclosure proposal may undergo significant amendments, according to securities attorneys. In a recent report by the National Law Journal, experts have expressed concerns about the practical challenges and financial burden associated with compliance.
The opposition to the proposal is largely focused on its potential impact on businesses. Lawyers involved in the conversation anticipate a rise in litigation following the proposal’s promulgation, should it proceed without revisions.
The SEC proposed this measure as a part of broader efforts to regulate corporate responsibility in the face of climate change. While the specifics of possible changes to the proposal have not been confirmed yet, further discussions among legal professionals are expected in the coming weeks.