Financial regulator aims to kill climate disclosure rule
In the latest action to undo Biden-era regulations on climate change, the Securities and Exchange Commission has proposed repealing a rule that requires some public companies to report their greenhouse gas emissions and the risks they face from global warming.
The disclosure rule has been on hold since last year, after the commission said it was pausing its legal defense after legal challenges by business groups and Republican-led states.
An SEC statement Friday said the disclosure rule exceeds the scope of the agency’s statutory authority and imposes an unnecessary burden on businesses.
Environmental groups said eliminating the rule would leave investors without information they need to assess financial risks related to climate change.
- US securities regulator seeks to end corporate disclosures on climate risk Financial Times —
- SEC moves to formally rescind corporate climate disclosure requirements The Hill —
- SEC proposes rolling back controversial Biden climate disclosure rules Washington Examiner —
- Trump’s top Wall Street cop shoots down Biden-era climate rules for US firms NY Post —
- SEC moves to repeal rule that requires companies to report greenhouse gas emissions and climate risk The Independent —