API Pitches Emissions Disclosure Framework

With federal regulators preparing climate risk disclosure rules, industry trade association American Petroleum Institute (API) on Thursday rolled out a template it says oil and gas firms can use to present carbon emissions data uniformly. "We recognize there is a need for greater consistency and comparability," the API's Frank Macchiarola told reporters. The API reporting template will standardize units of measure and the names of units, and include areas for companies to include Scope 1 and 2 emissions (operational) and other disclosures, such as third-party verification. Macchiarola said it will be easier for investors to compare climate risk across companies if the tool is adopted. Missing Something