SEC vs. Courts: The High-Stakes Showdown Over Climate Disclosure That Could Shake Every Investor’s Playbook
With summer temperatures soaring across the country, a game of hot potato sounds about as enticing as sitting down at a shadeless park bench for a bowl of chicken noodle soup. Apparently not to the federal courts and the Securities and Exchange Commission, however.
The SEC asked a federal appellate court last week to rule on the validity of climate-risk reporting rules developed during the previous administration. The climate disclosure rules came as the result of a years-long slog undertaken by Democratic lawmakers to require companies to include in public filings both the environmental impact of their own operations and the risks climate change poses to their businesses. The new regulations drew heavy fire from business-aligned legislators and business interests at every turn of the rulemaking process.
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