Climate groups drop lawsuits seeking stricter climate disclosures to support SEC against anti-ESG challenges
Sierra Club and NRDC will focus their resources on “advocating for improvements to climate-related financial disclosures” outside of court.
Two environmental groups that had filed a petition to review the US Securities and Exchange Commission’s “weakened” climate disclosure rule have dropped their cases to support the SEC against legal challenges from conservative and anti-ESG states.
The SEC published its long-awaited climate disclosure rule on March 6 and was almost immediately challenged in court by energy companies and a coalition of conservative states that recently passed a number of ‘anti-ESG’ laws aiming to prevent investors from taking sustainability into account in portfolio management.
