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The Securities and Exchange Commission (SEC) announced in recent
weeks multiple efforts to highlight climate change in corporate
disclosures and to increase scrutiny and, potentially, enforcement
focus on company disclosure efforts on climate and other
environmental, social, and governance (ESG) matters. While
the topic of ESG disclosures is not new, the increased attention to
the topic, and climate change in particular, is noteworthy and
expected to remain an area of focus at the SEC and under the Biden
Administration more broadly.
Existing Frameworks
The question of whether and what companies should disclose to
On January 14, 2021, Laurel Hill Advisory Group
(
Laurel Hill ) and Fasken hosted a
webinar on ESG (environmental, social and governance)
considerations of which companies should be aware for the upcoming
2021 proxy season. The webinar s panelists were David Salmon of
Laurel Hill and Emilie Bundock, Stephen Erlichman and Grant
McGlaughlin of Fasken and was moderated by Gordon Raman of Fasken.
Set out below are some of the comments made by the speakers on the
webinar.
Background
The importance of ESG considerations in today s corporate
governance model has developed over the past 50 years. In the early
1970 s the Milton Friedman view of corporations was the