Tag: Climate

House GOP Unveils Bill to Strike SEC Climate Disclosure Rule

House Republicans unveiled a bill Wednesday to nullify the Securities and Exchange Commission’s landmark corporate climate risk disclosure rule, joining a flurry of efforts in courts to kill the mandate. The bill, introduced by Rep. Bill Huizenga (R-Mich.), would use the Congressional Review Act to overturn the rules, which are currently on pause. The commission froze implementation of its regulation…

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SEC’s Climate Reporting Freeze Is No Time for Corporate Inaction

Because there isn’t yet a schedule for the challenge, it’s hard to predict whether the court will have reached a final ruling—or if parties will appeal that ruling—before the compliance dates for initial reporting would have come into effect. For example, large accelerated filers would have initial reports due by 2026 for fiscal year 2025 information. Groups and states seeking…

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SEC Accepts Pause on Its Climate Rule – WSJ

The Securities and Exchange Commission said Thursday it would pause the implementation of its new climate disclosure rule while it fights in court over the measure’s legality. The SEC will stay the rule, in part to avoid regulatory uncertainty as litigation proceeds, the agency said in a filing with the U.S. Court of Appeals for the Eighth Circuit. An appeals…

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SEC Climate Rule Suits Head to Eighth Circuit After Lottery 

Litigation over whether the SEC can require public companies to disclose their greenhouse gas emissions and other climate-related information to investors will be consolidated and reviewed by the conservative-leaning Eighth Circuit, as the result of a lottery drawing Thursday. The Judicial Panel on Multidistrict Litigation lottery selected the US Court of Appeals for the Eighth Circuit as the venue for…

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US appeals court temporarily pauses SEC climate disclosure rules | Reuters

A U.S. appeals court on Friday temporarily paused new rules issued by the Securities and Exchange Commission (SEC) requiring public companies to report climate-related risks. The New Orleans-based 5th U.S. Circuit Court of Appeals granted a request from Liberty Energy Inc. and Nomad Proppant Services LLC to put the rules on hold while it considers the oilfield companies’ lawsuit challenging…

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SEC Climate Suits Head Toward Lottery to Pick Single Court

Business interests, Republican state attorneys general and environmentalists flocking to upend the SEC’s recently-approved emissions reporting rules have spread at least nine lawsuits across six federal courts. Each case has been filed in a circuit with an ideological bent that meshes with the filers, though they have no sway in what’s expected next. Ultimately, the cases are poised to land…

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Sierra Club sues SEC over new climate risks-reporting rule

A leading environmental group is suing the Securities and Exchange Commission over a new rule mandating companies disclose their environmental-related risks, arguing it does not go far enough to protect investors. The rule was finalized March 6 ordering publicly traded companies to reveal climate-related risks “that have had or are reasonably likely to have a material impact on” on their…

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For CFOs Tackling Weakened SEC Climate Rule, Cost Challenges Persist  – WSJ

“I don’t think anybody looked at the rule and said, ‘Oh thank goodness, this is going to be super easy,’” said Steve Soter, vice president and industry principal at business-reporting software provider Workiva. “I don’t think anybody’s saying that. But by comparison, it has gotten a little bit less effort-intensive.” The most challenging part of the rule for companies will…

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