SEC proposes repealing climate disclosure rule requiring companies to report emissions and climate risks

Summary

The Securities and Exchange Commission (SEC) has proposed repealing a Biden-era climate disclosure rule that would require 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 eliminating it would deprive investors of critical information about climate-related financial risks.