Talking ESG: FAQs on the SEC climate disclosure rules

PwC's accounting podcast

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While the SEC has stayed its climate disclosure rule for now, our team is still fielding many questions as preparers work toward complying with global sustainability reporting regulations. In this episode, host Heather Horn sits down with PwC National Office partners Kevin Vaughn, Diana Stoltzfus, and Valerie Wieman to break down some frequently asked questions on the SEC climate-related disclosures rules.
In this episode, we discuss:

• 2:05 - The implications of the SEC staying the new climate disclosure rules, and how the rules fit into an environment with multiple reporting frameworks
• 5:17 - The continued applicability of previously issued interpretive guidance on climate-related disclosures
• 7:05 - The scope of the SEC’s new climate disclosure rules
• 10:11 - Impacts of the disclosure rules to management certifications and internal controls
• 11:20 - Frequently asked questions from SEC filers about:
  • 11:25 - Scenario analysis
  • 13:53 - Materiality
  • 15:31 - Targets and goals
  • 21:10 - Renewable energy certificates and carbon offsets
  • 23:51 - Financial statement impacts
  • 30:26 - Severe weather events and other natural conditions
• 33:56 - Advice and action steps for preparers

Looking for the latest developments in sustainability reporting? Follow this podcast on your favorite podcast app and subscribe to our weekly newsletter to for the latest thought leadership on sustainability standards. Also, refer to the SEC staff’s Dear Issuer Letter for sample comments on a company’s climate-related disclosures.
Kevin Vaughn is a partner in PwC’s National Office. Prior to joining PwC, Kevin was senior associate chief accountant in the Office of the Chief Accountant (OCA) at the SEC where he spent almost 20 years focusing on complex financial reporting and technical accounting issues.
Valerie Wieman is a PwC National Office partner with over 30 years of experience. She helps lead the creation, development, and publication of our brand-defining thought leadership, with a focus on domestic and international sustainability requirements.
Diana Stoltzfus is a partner in the National Office. Diana helps to shape PwC’s perspectives on regulatory matters, responses to rulemakings, and policy development, and implementation related to significant new rules and regulations. Prior to rejoining PwC, Diana was the Deputy Chief Accountant in the Office of the Chief Accountant (OCA) at the SEC where she led the activities of the Professional Practices Group within the OCA.
Heather Horn is the PwC National Office Sustainability & Thought Leader, responsible for developing our communications strategy and conveying firm positions on accounting, financial reporting, and sustainability matters. In addition, she is part of PwC’s global sustainability leadership team, developing interpretive guidance and consulting with companies as they transition from voluntary to mandatory sustainability reporting. She is also the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series.
Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [e-mail].

챕터

1. The implications of the SEC staying the new climate disclosure rules, and how the rules fit into an environment with multiple reporting frameworks (00:02:05)

2. The continued applicability of previously issued interpretive guidance on climate-related disclosures (00:05:17)

3. The scope of the SEC’s new climate disclosure rules (00:07:05)

4. Impacts of the disclosure rules to management certifications and internal controls (00:10:11)

5. Frequently asked questions from SEC filers about: (00:11:20)

6. Scenario analysis (00:11:25)

7. Materiality (00:13:53)

8. Targets and goals (00:15:31)

9. Renewable energy certificates and carbon offsets (00:21:10)

10. Financial statement impacts (00:23:51)

11. Severe weather events and other natural conditions (00:30:26)

12. Advice and action steps for preparers (00:33:56)