The Securities and Exchange Commission has proposed rules that would make it easier for investors to source public company emissions data, it announced Monday.

In the proposed rule change, the agency outlined plans to require companies to include climate-related disclosures in their annual reports, including information about their direct greenhouse gas emissions, which would be verified by a third party.

In a statement, SEC chair Gary Gensler said the proposal would help issuers make more informed investment decisions. “I believe the SEC has a role to play when there’s this level of demand for consistent and comparable information that may affect financial performance. Today’s proposal thus is driven by the needs of investors and issuers."

The proposal has been long-awaited by investors and companies alike — during Gensler’s Senate confirmation hearings last March, he teased plans to require a higher level of reporting on ESG topics during his tenure at the agency.

If the rules are approved, companies would have to start disclosing emissions data in 2024. Companies will also have to outline their plans to meet the emissions targets that they disclose, as well as provide a timeline for doing so.

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