Calls for climate change reporting prompt companies to evaluate disclosure policies

US companies are facing increasing pressure to identify, evaluate and disclose the risks and liabilities associated with climate change. The absence of a federal regulatory programme concerning greenhouse gas emissions and the lack of specific guidance from the Securities and Exchange Commission on climate change disclosure presents serious challenges to publicly traded companies. This article discusses two recent developments evidencing the call for more complete and uniformdisclosures, identifies some of the market forces behind these initiatives, and suggests practices that companies should consider when making their disclosure determinations.