The International Organization of Securities Commissions (Iosco), of which the SEC is a member, endorsed the climate related reporting standards of the International Sustainability Standards Board (ISSB). The SEC is completing its own rules for U.S. reporting companies that were originally proposed in March 2022. The SEC's final rules are expected to be published by the end of the year. The ISSB's standards are more stringent than the ones the SEC is expected to adopt, so U.S. reporting companies may have to comply with the more stringent standard if they operate in jurisdictions outside the U.S. that have adopted the ISSB standards.

The SEC's final rules are expected to be less stringent than in the SEC's original proposal due to the significant concern expressed to the proposed rules. Many companies said the new disclosures would be complex and costly to implement, while also being highly subjective in many cases.

Given the general agreement of securities regulators worldwide (if not necessarily all of the specifics), it seems likely that public companies will soon need to begin making climate change/climate risk disclosures. In addition to new SEC requirements, companies operating outside the U.S. will need to make sure that they comply with the disclosure requirements for all jurisdictions in which they operate, meaning it may simply be easier for some companies to comply with the more stringent standards set out by the ISSB, than trying to determine requirements on a jurisdiction-by-jurisdiction basis.