SEC Utility Filers Can Expect Additional ESG Disclosures for 2023 10-K's
- Feb 17, 2022 6:48 pm GMT
ESG - Environmental, Social, and Governance is a key focus in many areas. Adding ESG to your financial reporting can influence shareholders, suppliers, and yes, your electric utility's bond rating.
For SEC filing utilities, sources say to expect SEC rules to be issued by the end of 2022 for including ESG information in 10-K filings. Then, requirements will be for 2023 10-K's. The reporting will center around metrics, and setting and meeting sustainability goals.
Now is a good time to develop processes to capture sustainability measures and approaches to reporting. The Sustainability Accounting Standards Board standards provide a good model to follow to get started, listing specific metrics by ES&G areas.
Those of you non-SEC electric utilities (including you too, municipals) may not need ESG reporting quite yet. But, if history is a guide, the trickle-down effect of accounting reporting will soon encompass all organizations. :)
Here's more on how ESG factors are measured, interpreted, and can be factored into your electric utility's financial statements.
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