- October 13, 2022
- Posted by: Bastion team
- Category: World News
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As different sectors consider how they would implement the proposed rules from the U.S. Securities and Exchange Commission (SEC) on climate-related disclosures, media & telecommunications will be a particularly interesting case study. Unlike industries with tangible products — like retail, for example — media & telecom’s environmental impact can be more challenging to quantify when it comes from turning on a TV or mobile device, streaming digital content or even hosting live entertainment events.
The proposed disclosure rules have the potential to significantly raise the bar for how media & telecom companies identify, measure and disclose climate risks and opportunities to investors and the market more broadly. As the rules work their way through the approval process, finance leaders at media & telecom companies, many with operations around the globe, are thinking critically about what the proposal means for their businesses, both strategically and operationally. As the industry prepares for a new era of regulation, leaders tasked with reporting readiness and compliance should keep four considerations top of mind:
- Your data collection processes and controls are imperative.
Until now, companies have operated under vastly different reporting standards and frameworks, which the SEC — along with several national and international bodies — hopes to remedy. One of the primary objectives of the proposed…