SEC proposes repealing climate disclosure rule for public companies
By
Matthew Daly
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Summary
The Securities and Exchange Commission (SEC) has proposed repealing a Biden-era climate disclosure rule that would have required some public companies to report their greenhouse gas emissions and climate-related financial risks. The rule has been on hold since last year after legal challenges from business groups and Republican-led states. The SEC argues the rule exceeds its statutory authority and imposes unnecessary burdens on businesses, while environmental groups contend that eliminating it would deprive investors of critical information needed to assess climate-related financial risks.
Key quotes
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Environmental groups said eliminating the rule would leave investors without information they need to assess financial risks related to climate change.
In the latest action to undo Biden-era regulations on climate change, the Securities and Exchange Commission on Friday proposed repealing a rule that requires some public companies to report their greenhouse gas emissions and the risks they face from global warming.
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