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Changes in Climate and Human Capital Disclosure Mandates
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Change is coming for corporate America. While many of us expect it to arrive in the form of climate disclosures, the SEC is yet to release the proposals they came up with in 2022. How these rules are written is a key factor in shaping the way businesses respond to climate change and other ESG issues. Joining us to explain where things currently stand is Stanford Law School Professor, Colleen Honigsberg. Along with her legal expertise, Colleen holds a Ph.D. in accounting and is a CPA. Tune in to hear why business leaders should concern themselves with climate change, what two key forces are behind the shift in focus on climate activism, the treatment of Greenhouse Gas emission disclosure, and the coming emphasis on human capital. We touch on the role of the ISSB and discuss why climate audits can only offer limited assurance before Colleen shares her perspective on human capital, petitioning the SEC, and more. Don’t miss this informative conversation!
Key Points From This Episode:
• Introducing Stanford Law School Professor and CPA, Colleen Honingsberg.
• Colleen’s career journey, which began in accounting.
• How she selected a Ph.D. in accounting with a goal to become a legal professor.
• Why we should care about climate change as business leaders and the ones who advise them.
• Two key forces behind the surge in investment in climate activism.
• Scope 1, 2, and 3 Greenhouse Gas emissions.
• Why the SEC pivoted on Scope 3 emission disclosures.
• The role of the ISSB in dealing with these factors.
• Why climate audits can only offer limited assurance and accuracy.
• Colleen’s perspective on the omission of human capital in financial statements.
• How and why Colleen petitioned the SEC to enact change.
• What to make of the inclusion of human capital in the SEC’s agenda for 2024.
Links Mentioned in Today’s Episode:
Colleen Honigsberg on LinkedIn
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