How will new rules from the US Securities and Exchange Commission affect waste businesses? They’re waiting to find out.
According to a recent report from Waste Dive, the SEC’s proposed disclosure rules for environmental, social, and governance (ESG) reporting have yet to be finalized – but many companies and industry organizations are already paying attention. That’s because even if a business is privately held, the propose rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors could affect them.
“If the private company is within the value chain, upwards or downwards, of a company that has to provide the ‘Scope 3’ metric in their report, they will be asked to help provide that information. They’ll roll up into that company’s Scope 3 emissions that have to go into their SEC reporting,” Julie Rizzo, a partner in the capital markets group of K&L Gates, told Waste Dive’s lead editor Robert Freeman earlier this month.
The issue has the attention of the National Waste and Recycling Association (NWRA).
The NWRA has submitted comments to the SEC, saying it supports the intent of the proposed rule while noting potential problems with its requirements, according to a report from Waste Today.
“NWRA and its member companies are supportive and believe we play a critical role in the transition to a low-carbon economy. We are not only doing our part to reduce greenhouse gas (GHG) emissions from our operations, but we also provide products and services that help our customers achieve their GHG reduction goals. We appreciate the opportunity to provide comments on the proposed rule and look forward to engaging with the SEC on this issue,” ” NWRA President and CEO Darrell Smith said, according to the Waste Today report.