illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: The Securities and Exchange Commission (SEC) is anticipated to scale back its climate disclosure rule by exempting public companies from reporting Scope 3 emissions
• This significant alteration could obscure a vast quantity of emissions from both investor and public view, affecting the transparency and accountability of corporate environmental impacts

🔭 The context: Scope 3 emissions encompass all indirect emissions from a company's value chain, including both upstream and downstream activities
• These emissions often constitute the majority of a company's carbon footprint, with estimates suggesting they can account for up to 70% of total emissions

🌍 Why it matters for the planet: The omission of Scope 3 from reporting requirements risks a considerable underreporting of emissions, thereby weakening the overall effectiveness of climate disclosures
• This move could potentially undermine efforts to combat climate change by allowing companies to hide the true scale of their carbon footprint, impacting investors' ability to make informed decisions based on environmental considerations

⏭️ What's next: The SEC's final decision on climate disclosure rules remains highly anticipated
•  The outcome will significantly influence the landscape of corporate environmental transparency and the ability of investors to assess climate-related risks

💬 One quote: "Not disclosing at least over half of emissions flowing through operations of those companies fails to provide investors adequate information and ability to assess risks." - Hughey Newsome, Contributor for Forbes.

📈 One stat: Deloitte estimates that supply chain emissions account for 70% of a corporation's total emissions, highlighting the significant impact of Scope 3 emissions on a company's environmental footprint.

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