SEC pauses final climate rule pending court challenge

 

The U.S. Securities and Exchange Commission (SEC) announced Thursday it will stay implementation of its final rule requiring companies to disclose their climate-related risks pending the results of a legal challenge from GOP-led states.

The SEC said in its ruling that the stay does not indicate an abandonment of the rule, which it will continue to defend against a court challenge from Republican attorneys general.

...The rule, finalized by the SEC earlier last month, requires companies to disclose any risks climate change poses to their business and, in some cases, for larger and mid-sized companies to provide information about their carbon dioxide emissions.

 

Nine Republican attorneys general, led by Brenna Bird of Iowa, have sued in the Eighth Circuit, arguing it exceeds the agency’s authority. The lawsuit is one of three against the rule, with a total of 25 Republican state AGs involved in litigation...more