GHG Updates:  EPA’s GHG Endangerment Finding, and SEC’s Guidance on Financial Disclosures

March 18, 2010; 11:00 – 12:30 Eastern Time (NOTE DATE CHANGE)

The Auditing Roundtable announced a webinar on EPA’s GHG Endangerment finding.   There have been many developments regarding GHG, and we are pleased to add a “bonus topic”:  the Security and Exchange Commission (SEC)’s guidance on financial disclosures related to climate change.  Note that the date has changed to March 18, 2010. 

TOPICS

Greenhouse gases and endangerment to public health and welfare:    EPA issued a decision on December 7, 2009, to act under section 202(a) of the Clean Air Act.  It had two significant findings dealing with “endangerment” and “cause or contribute”

• The Administrator found that the current and projected concentrations of the six key well-mixed greenhouse gases  in the atmosphere threaten the public health and welfare of current and future generations.
• The Administrator also found that the combined emissions of these well-mixed greenhouse gases from new motor vehicles and new motor vehicle engines contribute to the greenhouse gas pollution which threatens public health and welfare

An endangerment finding is a necessary precursor to regulations.  The webinar will discuss EPA’s endangerment finding, its importance to companies with operations in the U.S.  The webinar will provide tips to those developing carbon footprints, and how Internal Auditors and Environmental Compliance Auditing program managers can address this issue. 

SEC Guidance:  The SEC released guidance February 2, 2010 (in February 9 Federal Register) regarding financial disclosures for climate change.  The Guidance is an excellent primer for SEC and accounting rules for financial disclosure – of any type of risk.  It also mentions three other sources of GHG information.  Environmental activists are likely to be disappointed by the lack of new requirements.  Business executives, internal auditors, and corporate risk managers could take comfort for the same reason.   However, the Guidance offers perspectives to both groups.  The webinar will provide some of the background, insights into financial disclosures, and tips for auditing program managers.  

PRESENTERS

Todd Kantorczyk, a partner with Manko, Gold, Katcher and Fox, LLP will discuss the endangerment finding.  Mr. Kantorczyk is a partner with Manko, Gold, Katcher and Fox LLP.  Mr. Kantorczyk has extensive experience advising clients on issues related to regulatory compliance, litigation, and transactional matters, particularly in the areas of air, climate change, and energy.

Douglas Hileman, president of his own firm, will discuss the SEC’s guidance.  Mr. Hileman has over 30 years of experience in the EHS field, including six years at a Big 4 accounting firm.  He has worked with dozens of clients on financial reporting and disclosures, conformance with Sarbanes-Oxley and accounting rules, and compliance and risk management.  He is a long-time member of the Auditing Roundtable and currently on the Board.