United States | Publication | March 2024
The US Securities and Exchange Commission (SEC) proposed new rules in March 2022 aimed at standardizing and increasing transparency around how public companies disclose climate-related risks that would materially impact their business, results of operations or financial condition. After nearly two years of consideration and analyzing over 16,000 public comments, the SEC finalized such rules on March 6, 2024, with some prominent changes from the initially proposed rules.
The article delves into the SEC’s recently finalized climate-related disclosure rules, providing an overview of the disclosure requirements and materiality considerations. It further delineates the expectations that public companies should anticipate in order to comply with such rules, including some of the challenges.
Copyright 2024 Bloomberg Industry Group, Inc. (800-372-1033) SEC Climate-Related Disclosure Rules. Reproduced with permission.
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The OECD Pillar Two rules (also known as the Global Minimum Tax), where implemented by a national jurisdiction, require multinational enterprises (MNEs) with a consolidated group turnover of more than €750 million to calculate the effective tax rate in each jurisdiction in which it operates.
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On February 25, 2025, the Department of Energy (DOE) issued an Order Granting Request for Rehearing and Clarification and Modifying Order (Order 5233-A) (the Modified Order) clarifying that DOE will no longer consider ship-to-ship transfers of liquified natural gas (LNG) used as a fuel for marine vessels an “export” for the purposes of Section 3 the Natural Gas Act of 1938 (the NGA) when the receiving ship is located in US ports, US waters or international waters.
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