SEC pauses implementation of climate disclosure rules (2024)
| Environmental, social, and corporate governance |
|---|
|
| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • Economy and Society: Ballotpedia's weekly ESG newsletter |
The Securities and Exchange Commission (SEC) last week chose to pause its newly released climate data reporting rules, delaying enforcement until pending court cases are heard and decided:
| " |
The Securities and Exchange Commission’s decision to pause the March 6 regulations on its own came after business interests and right-leaning challengers asked the US Court of Appeals for the Eighth Circuit to freeze the rules as their litigation there continues. The SEC’s latest move was another early victory for climate disclosure regulation opponents, which have said the agency exceeded its authority with requirements for companies to report their greenhouse gas emissions and disclose climate-related risks to their business. The US Court of Appeals for the Fifth Circuit previously paused the rules from March 15 to 22, over opposition from the SEC. The litigation then moved to the Eighth Circuit, which was randomly selected in a lottery to hear lawsuits over the regulations. The SEC initially fought against a pause in the Eighth Circuit, as well. The SEC 'will continue vigorously defending' the rules despite issuing the hold, formally called a stay, the agency said in a three-page order. The pause will remain in place as the Eighth Circuit reviews the challenges, avoiding 'potential regulatory uncertainty,' the SEC said. The hold also will help the Eighth Circuit focus its review on the merits of the challenges, according to the agency.[1] |
” |
See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
| |||||||||||||||||||||||
