The newly passed greenhouse gas disclosure rule from the Securities and Exchange Commission will have a significant impact on many industries, including commercial real estate.
Probably the biggest change between the initial rule and the final version after the required public comment period is the modification of what has to be reported. There are three types of emissions. Scope 1 are those directly generated by a company. Scope 2 are created by electricity, heat, cooling, and other services a company uses. Scope 3 emissions are those attributable to supply chains.
Initially, all three were to be included, but the SEC dropped the Scope 3 after significant volumes of negative comments.
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