SEC proposes rolling back controversial Biden climate disclosure rules
The SEC has proposed to rescind climate disclosure rules established under the Biden administration, citing them as unnecessary and costly for public companies. SEC Chairman Paul Atkins emphasized that disclosure obligations should align with the agency's statutory authority and materiality. This move reflects ongoing efforts to roll back climate-related regulations initiated by the previous administration.
- ▪The SEC claims the climate disclosure rules exceed its statutory authority.
- ▪The proposed rollback is part of a broader trend to reduce climate change-related regulations.
- ▪The original rules required companies to report their carbon emissions and climate risks.
Opening excerpt (first ~120 words) tap to expand
The Securities and Exchange Commission has proposed rescinding rules imposed under the Biden administration that mandate that public companies report their carbon emissions and climate change-related risks. The commission described the climate disclosure rules as “unnecessary,” claiming the dormant rules exceed the scope of the agency’s statutory authority and impose significant costs on public companies and their shareholders. Recommended Stories Utah announces transparency tool in response to data center concerns California lifts evacuation orders after securing chemical leak Anti-Islam, anti-DEI candidate defeats industry favorite for seat on Texas oil agency “SEC disclosure obligations should comply with the Commission’s statutory authority, be guided by materiality as the North Star,…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
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