The Securities and Exchange Commission (SEC) has not yet approved its climate-related disclosure rule, despite indications the vote would occur this fall. Implementation of the rule, parts of which are expected to apply fiscal year 2023 for large accelerated filers, might be delayed by litigation.

The proposed rule is a sweeping potential mandate that would force all public companies to quantify, measure, and disclose their effect on the environment. It would order public companies to include disclosures about how climate-related risks affect their strategy, business model, and outlook; how the company’s board and management oversee climate-related issues; and any plans for transition to a lower carbon footprint.

Respondents to Compliance Week’s “Inside the Mind of the CCO” survey said they were experiencing numerous “pain points” to complying with the rule, ranging from a lack of resources, difficulties with finding and collecting required data, and obstacles created by senior managers or other departments.