Lifting the Veil: Pressures Mount for Climate Change Disclosures

Richard Faulk, Gardere Wynne Sewell LLP

Abstract

Measures from Sarbanes-Oxley to climate change legislation will pervasively transform the manner in which American businesses relate to shareholders and consumers. Capping a month of extraordinary changes, the National Association of Insurance Commissioners adopted a rule that mandates broad disclosures by insurance companies regarding the impact of climate change on their financial stability – thereby enlisting the insurance industry as a ‘‘partner’’ in the enforcement of global and national climate change policies.