Last week, during a show on “Building the 21st Century Financial System,” during a speech that focused primarily on various market risks, SEC Commissioner Crenshaw nonetheless took the opportunity to mention that “[t]Commission staff are developing a proposal that will aim to provide investors with decision-useful and comparable climate information so that they can better understand an issuer’s climate risks.”

The fact that SEC Commissioner Crenshaw was careful to stress once again the SEC’s emphasis on issuing new climate risk disclosures underscores the importance of this initiative for the SEC and its key decision makers. All those regulated by the SEC can reasonably anticipate that this will continue to be an important focus of SEC activities over the coming months, which will likely extend from disclosures to enforcement activity regarding perceived breaches of comply with such disclosures.

Although SEC Commissioner Crenshaw did not provide any new details about the content of these disclosures in her speech (which focused on other issues), it seems likely that new information will be provided about the contours of these disclosures. offered over the next few weeks.