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EPA finds greenhouse gases pose threat to public health and welfare―environmental related issues will be on the rise for potential consideration by management and the audit committee, including, for example, with respect to liabilities or unexpectancies, MD&A, and other disclosures.

On April 17, 2009, the Environmental Protection Agency issued a proposed finding Friday that greenhouse gases contribute to air pollution that may endanger public health or welfare. The proposed finding, which now moves to a public comment period, identified six greenhouse gases that pose a potential threat. The proposed endangerment finding states, “In both magnitude and probability, climate change is an enormous problem. The greenhouse gases that are responsible for it endanger public health and welfare within the meaning of the Clean Air Act.” The six gases include carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulfur hexafluoride. The proposed endangerment finding now enters the public comment period, which is the next step in the process the EPA must undertake before issuing final findings. The proposed finding does not include any proposed regulations at this time.  For additional information, the following is a link to the EPA announcement, Click Here

Relating to climate change disclosures, the following is a link to a previous but recent discussion from the D & O Diary, relating to the Xcel Energy settlement with the Attorney General of New York,

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