04 May, 2010 | (01 hr)

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This past January the Securities and Exchange Commission (SEC) voted to issue guidance on how existing disclosure requirements apply to climate change matters for public companies.  According to SEC Chairperson Mary Schapiro, the guidance “does not create new legal requirements or modify existing ones – it is merely intended to provide clarity and enhance consistency.”  The SEC noted that today a growing number of public companies provide disclosure about significant climate change-related matters through voluntary mechanisms (e.g., CDP or GRI), yet do not include this information in SEC filings. While the wide breadth of information disclosed voluntarily is not required under current SEC rules, the quality of disclosures under current mandated rules should improve.  Specifically, to satisfy their disclosure obligations under the federal securities laws and regulations, companies need to provide more information on:  1) The impact of legislation and regulation, 2) The impact of international accords, 3) Indirect consequences of regulation or business trends, and 4) Physical impacts of climate change.  This webcast will explore the implications of SEC guidance for corporate measurement and reporting on climate change risks and how this can improve corporate investor relations.

This webcast will discuss:

  • Why the SEC issued this guidance now
  • How this guidance will change the nature and extent of corporate climate change measurement and disclosure
  • Whether materiality of climate change risks will be clarified both for corporate managers and investors
  • How this information can help financial analysts and protect investor interests
  • The legal ramifications this guidance has for corporations and investors

Speakers

James Budge

James Budge
Senior Special Counsel to the Deputy Director, Disclosure Operations, Division of Corporate Finance
Securities and Exchange Commission

Mr. Budge worked closely with the Commission in preparing the SEC guidelines on climate change exposure.  He previously served as a special counsel in the Division’s Office of Small Business and as an attorney in the Division’s ru... Full Bio

Doug Cogan

Doug Cogan
Director, Climate Risk Management
RiskMetrics Group

Risk Metrics is a firm that specializes in the analysis of portfolio, governance and accounting risk. Mr. Cogan has 25 years of experience as a researcher and advisor to institutional investors, corporations and government agencies.  He is th... Full Bio

Adam Kanzer

Adam Kanzer
Managing Director and General Counsel, Domini Social Investments, Chief Legal Officer
Domini Funds

Adam Kanzer’s responsibilities include directing Domini's shareholder advocacy department, where for more than ten years he has led numerous dialogues with corporations on a wide range of social and environmental issues. In June 2009, Mr. Ka... Full Bio

Michael Moran

Michael Moran
Vice President
Goldman Sachs

Michael Moran is a member of the Goldman Sachs Global Markets Institute. He focuses on policy issues related to accounting and regulation, specifically addressing their impact on financial results. Recent areas of research focus include pension an... Full Bio

Brian Rice

Brian Rice
Portfolio Manager, Corporate Governance
California State Teachers Retirement System (CalSTRS)

Mr. Rice is a Portfolio Manager in the CalSTRS Corporate Governance Department and has been working in the governance group at CalSTRS for the past 10 years. His main areas of focus are environmental risk management, the CalSTRS activist manager e... Full Bio

Dinah A. Koehler, Sc.D.

Dinah A. Koehler, Sc.D. (Moderator)
Deloitte

Dinah Koehler, Sc.D. is research leader for sustainability and climate change at Deloitte Research – the research division of the Deloitte US firm. She earned her Doctor of Science degree in Environmental Science and Risk Management from Har... Full Bio

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