Regulatory Submissions

This week APGA, as a part of the Business Council for Sustainable Energy (BCSE), sent a letter to the Securities and Exchange Commission (SEC). APGA understands the oversight responsibility of the SEC is limited when it comes to public utilities, but their current efforts to evaluate and likely propose environmental, social, and governance (ESG) and climate change-related disclosure rules could be impactful to all in the natural gas value chain. It was critical for APGA to be supportive of the BCSE submitting a letter, which detailed how policy, regulatory, and market drivers can help or hurt deployment of clean energy technologies and reduction of greenhouse gas emissions. As a part of the letter, APGA appreciates the opportunity to join with other BCSE members in sharing perspectives, highlighting the following as key points to consider:

• Collaboration Between Investors and Registrants to Ensure Relevant, Concise and Comparable Disclosures is Needed;
• Disclosures and Quantitative Metrics Should be Accompanied by Qualitative Information;
• Disclosure Rules Should Adopt Safe Harbor Provisions for Data Submissions;
• Nationally Recognized, Industry-Developed Reporting Standards Should be Eligible Disclosure Processes; and
• Disclosure Processes Should Be Structured to Adapt Over Time and Allow for Innovation.

There was also action on ESG disclosures in Congress this week. Publicly traded companies would be required to disclose financial risks related to climate change under legislation approved by the House, but it now heads to the Senate, where it faces an uncertain future. The measure is unlikely to muster the Republican support needed to pass. To see more information on the legislation that passed the House, click here.