SEC delays climate disclosure rule implementation amid legal challenges
In the month since its publication, the rule has been the object of at least nine lawsuits from Republican states, energy companies and industry associations.
The US Securities and Exchange Commission (SEC) has officially put its climate disclosure rule on pause following a raft of lawsuits arguing that climate regulation exceeds the agency’s authority.
The SEC approved its final rule on March 6, after two years of intense debate that led to a significant backtrack from the initial draft. For example, a requirement to disclose Scope 3 emissions was removed entirely, and the scope of operational (Scope 1 and 2) emissions reporting was also reduced.
