New US Regulatory Framework: Time for an Environmental Compliance Checkup?
Federal, state, and local governments have been implementing more stringent environmental regulations over the past two years as part of President Biden’s climate risk plan. The regulations call for greater environmental compliance and disclosure and affect a multitude of industries in both the public and private sectors. In April, it is anticipated that the Securities and Exchange Commission (SEC) will issue a final rule mandating companies publicly disclose Scope 1, 2, and 3 greenhouse gas emissions and report on climate risks that may have a material impact on business operations.
The pressure by government regulators on public companies to report and disclose emissions from their operations will invariably trickle down and impact private companies that are part of the public company’s supply chain. Private companies upstream or downstream of their public client will be required to report and disclose their own environmental metrics and performance to inform the public company’s reporting efforts. In effect, the new SEC rule designed to capture Environmental, Social, & Governance (ESG) data on public companies will create a de facto rule for private firms.
Given these developments, it’s imperative that companies conduct an environmental compliance audit to gauge if they are meeting current and upcoming regulations and measure the performance and sustainability of their operations. To address this need, Roux has created a web-based ESG software application that allows our clients to efficiently identify, collect, and manage environmental data and analyze it against prevailing standards and changes in industry compliance. Roux’s ESG software application assists companies in managing and analyzing data to meet and exceed short- and long-term goals, create an environmental management plan, benchmark their performance against industry and competitors, and make better strategic business decisions.
Interested in a demonstration of Roux’s ESG software application? Want to find out more about how these regulations will impact your company? Please contact Roux’s ESG team using the form below.
