Baker Tilly: The SEC Watered Down Its Climate Reporting Requirements. Here's What That Means for Companies.

Scope 3 reporting requirements in California and Europe will likely mean global companies still have to detail supply-chain emissions

NORTHAMPTON, MA / ACCESSWIRE / March 7, 2024 / Baker Tilly
By Yusuf Khan and Richard Vanderford

Originally published on WSJ.com.

Wednesday's announcement might afford some businesses some breathing room as they scramble to comply with what is still a landmark shift in how companies report on climate-related metrics. But businesses will still face requirements to report Scope 3 in some jurisdictions, as well as pressure from investors, consumers and business partners.

"A lot of them are impacted by so many different pressures in this space," said Mallory Thomas, a partner with the risk advisory practice at consulting firm Baker Tilly. "A lot of larger public companies will continue to report their Scope 3."

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A coal-fired power plant in Craig, Colo. The Securities and Exchange Commission on Wednesday approved a rule requiring corporate disclosure of some carbon emissions.
PHOTO: RICK BOWMER/ASSOCIATED PRESS

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