Gerry Pels, Houston Partner and Chair of the Firm-wide Environmental Section – Energy and Industry and ESG Practice, was quoted by Corporate Counsel on concerns surrounding a potentially forthcoming requirement from the U.S. Securities and Exchange Commission aiming to standardize the climate reporting information from companies across the board. Pels emphasized having the right team available to assist in the development of the climate-related data could be a company-wide effort involving operations, accounting, legal and even human resources.
“I’m very concerned that if companies don’t have an opportunity to really develop their infrastructure and knowledge base to develop the data, there could be a lot of litigation which could uncover issues that are uncomfortable for companies,” Pels said. “Preparation, preparation, preparation, in finding the right team, is what I think is so important and being comfortable to devote resources to it right now. Those resources will not be insubstantial because this is going to be a bigger lift than companies think.”
Read the full Corporate Counsel article here (subscription may be required).
Sign up for our newsletter and get the latest to your inbox.