Some good news for ESG investors, and even better news for accountants: the Securities and Exchange Commission just unveiled a new proposal that would force public companies to disclose mountains of climate change information.

The proposal goes far beyond requiring disclosure of the fossil fuels a company itself uses: It would also have companies report out the carbon footprint of their supply chains and even, in some cases, of the customers who use their products.

On today’s On The Merits, our weekly legal news podcast, we hear from Bloomberg News sustainability editor Eric Roston about what’s in this SEC proposal and why, for so-called “green investors,” this has been a long time coming. We also hear from Bloomberg Tax’s Amanda Iacone about why these disclosure rules could be a boon for accountants. After all, someone has to audit all of those new corporate climate statements.

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