The SEC has approved a new law for public companies concerning how they must disclose climate risks. Multiple parties say the rules are either too weak or too burdensome for companies, and overwhelming for investors. KPMG US ESG Leader Rob Fisher joins Yahoo Finance to explain what the new law will require of companies and what investors should know moving forward. While these scopes are comprehensive, "Scope 3," which concerns greenhouse emissions along a company's supply chain, is not required by the law. Fisher gives insight into that exclusion: "Some people think that the law goes too far, some don't believe it goes far enough, and certainly pulling out value chain emissions scope 3 is a huge part of that. The SEC receives something like 24,000 comment letters, 4,500 unique letters, and that was the biggest item. I think it was something they had to look at pretty closely. " For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino