07/18/2019 - Legal Analysis - White Paper

Influencing Energy Company Climate Disclosure Practices: Cautionary Words for State Attorneys General

In her new white paper and recently published article in the Vermont Law Review, Hana Vizcarra discusses corporate climate disclosures and how state attorneys general can avoid undercutting investor-led efforts to promote them. 

State attorneys general have long played a significant role in shaping the law and influencing policy around issues of national concern. AGs have recently shown an increased interest in corporate treatment of climate risks in financial disclosures, particularly by oil and gas companies. However, AGs efforts to address potential securities fraud and consumer protection concerns in such disclosures run parallel to investor-led efforts to expand and improve climate-related disclosures. AGs must walk a thin line to insure companies do not mislead investors and consumers while also not jeopardizing existing investor efforts to encourage more detailed climate-related disclosures from energy companies.

See her full white paper, Influencing Energy Company Climate Disclosure Practices: Cautionary Words for State Attorneys General for more on how AGs can encourage better disclosure practices and her Vermont Law Review Article for a deeper dive into the legal principles involved and a history of AG engagement on disclosure issues.