The SEC’s regulation will extend to any company listed on a U.S. Exchange, including foreign issuers. In addition, the European Union (E.U.) has proposed its own revised set of required disclosures covering ESG reporting titled the Corporate Sustainability Reporting Directive. The scope of organizations under this proposal extends well beyond those proposed by the SEC’s greenhouse gas requirements for public companies. This could have a significant impact to organizations with operations in E.U. member countries.