Green Credits Accounting Plan Critiqued Over Scope, Disclosures

The Financial Accounting Standards Board should slim down disclosure requirements in a first-of-its-kind proposal to standardize how companies account for carbon offsets and renewable energy certificates, market trade groups and the fuel industry said.

The Securities Industry and Financial Markets Association urged the US standard-setter to reduce the volume of details its draft plan has suggested requiring so companies face disclosure rules that are less “unduly onerous and costly.”

“The proposed required disclosures are disproportionately extensive and granular compared to the materiality of these assets and liabilities,” the American Petroleum Institute said in a comment letter ...