On the latest episode of the Governance Matters podcast, senior reporter Natalie Bannerman speaks to former SEC commissioner Allison Herren Lee about the SEC’s proposal to rescind its climate disclosure rule before it ever took effect.
Lee argues that, even if the rescission goes ahead, climate reporting will not disappear. Instead, companies are likely to continue disclosing climate-related information because investors want comparable, decision-useful data and because regulators in other jurisdictions are continuing to require it.
The conversation explores what the proposal signals about the SEC’s role in setting consistent disclosure standards, how Lee views the agency’s legal rationale and what the debate may mean for future approaches to materiality and investor protection.
The two also discuss how companies that have already invested in climate reporting may adapt their governance practices, board oversight and long-term disclosure strategies, and whether the absence of a federal rule could leave US issuers navigating a more fragmented and complex reporting landscape shaped by investors, states, international regulators and voluntary frameworks.
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