Nine states file legal challenge to SEC climate disclosure rule
Source: The Hill
03/06/24 2:23 PM ET
West Virginia Attorney General Patrick Morrisey announced a coalition of nine states will file a legal challenge to new regulations requiring public companies to disclose their climate-related risks and direct greenhouse gas emissions.
The Securities and Exchange Commission (SEC) voted 3-2 Wednesday to approve the climate disclosure rule, which will go into effect in 2026. Intense blowback from the business community delayed the passage of the final rule as the agency combed through thousands of comment letters following the initial proposal in 2022.
West Virginia and Georgia co-led the petition for review filed in the US Court of Appeals for the 11th circuit, Morrisey said, joined by Alabama, Alaska, Indiana, Oklahoma, South Carolina, Wyoming and Virginia. “This is a backdoor move to undermine the energy industry,” Morrisey said. He later added, “This is yet another attempt to advance an agenda without statutory authority, and I for one am not gonna let that happen.”
The new rules sparked immediate backlash from business groups and Republicans who have long opposed the change. Although the final rule rolled back a provision that would have required companies to report emissions that stem from their supply chains and products, it could face additional legal challenges.
Read more: https://thehill.com/business/4513407-nine-states-file-legal-challenge-to-sec-climate-disclosure-rule/
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"Waaaahhh! We should be able to destroy the only planet humans can rely on for survival just so we can make lots of money! Waahhh!"
