Climate Change Risks and Corporate Disclosure Responsibilities: 2018 CDP Survey Lessons and Insights

While the federal government rolls back rules aimed at curbing global warming--and SEC guidance for mandatory corporate disclosure of material climate change risks has not changed since 2010--voluntary corporate disclosure related to climate change is on the rise.

While "green investing" and sustainability-driven investment strategies are not new, shareholders, institutional investors, and asset managers are integrating sustainability in their overall investment strategies at an increasing rate. This trend is also driving investors to push for increased environmental disclosures from companies, allowing for better analysis of a company's performance over time and against their peers.

The January release of CDP's 2018 survey--which asked companies to report their environmental impact, including the risks and opportunities they believe climate change presents for their businesses--exemplifies this trend. The report garnered responses from over 7,000 companies worldwide, including over 1,800 from the U.S. Most of the largest companies by market capitalization participated and submitted far more specific data than what they include in their filings to the SEC.

Listen as our authoritative panel of environmental law practitioners discusses this trend in the context of mandatory reporting obligations, discusses lessons and insights from the CDP's recent survey, and offers strategies to meet new disclosure requirements and expectations.

1. Overview of climate change risk disclosure issues
2. Voluntary vs. mandatory climate risk reporting
3. Drivers of increased disclosures
4. Disclosure guidance and reporting frameworks
5. Sample corporate sustainability reports
6. CDP 2018 survey: Lessons and insights

The panel will review these and other vital questions:

• What climate change risks are companies required to disclose under current state and federal laws and regulations?
• If reporting is obligated or opted-for, how should companies choose a disclosure framework that meets their operational, reputational and financial needs?
• What steps can companies and counsel take to minimize the risk that more extensive disclosures will expose them to civil litigation?
• What are best practices for weighing the many risks and benefits of disclosure, particularly in the context of voluntary disclosures?
• What are the new consequences of the latest CDP survey--a tipping point, turning point or confirmation of previous trends?