The energy industry, like all industries, faces the possibility of new carbon emissions disclosure standards.
The climate-related disclosures proposed by the Securities and Exchange Commission would strengthen the environmental, social and governance (ESG) focus in the industry. The proposed rules come as U.S. executives in the 2022 KPMG US CEO Outlook Pulse Survey identified changing regulations (25%) and lack of standard metrics. (19%) as the biggest challenges to implementing their companies’ ESG strategies this year. In the long term, survey respondents identified the complexity of supply chains and the lack of appropriate technology solutions as the biggest barriers to achieving net zero.