On January 27, 2010, the Securities and Exchange Commission (SEC) voted to provide public companies with interpretive guidance on existing SEC disclosure requirements as they apply to business or legal developments relating to the issue of climate change. As a result, the SEC has published interpretative guidance that highlights four areas as examples where climate change may trigger disclosure requirements, primarily in the risk factors disclosure, management discussion and analysis (MD&A), and, in some cases, the company’s business description.