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SEC’s Lee Looks to Avoid ‘Gotcha’ Enforcement on ESG Reporting

June 7, 2021, 8:23 PM

The SEC should cut companies some slack with any new climate change disclosures or other environmental, social, and governance reporting before the agency considers enforcement actions, SEC Commissioner Allison Lee said.

Companies should have the chance to experiment with any ESG disclosures the Securities and Exchange Commission adopts without fearing calls from the agency’s enforcement lawyers, the Democrat said at the Wall Street Journal’s CFO Network event Monday.

Her remarks come as the agency is crafting plans for potential mandatory corporate disclosures on ESG topics such as climate risks and workforce diversity. The agency is soliciting feedback until June 13 ...