SEC proposes rolling back controversial Biden climate disclosure rules
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.
TL;DR
- The SEC has proposed rescinding Biden-era rules mandating public companies report carbon emissions and climate risks.
- The commission deems the rules "unnecessary," exceeding agency authority and imposing significant costs.
- This action is the latest in the Trump administration's efforts to roll back climate policies.
- The original rules, approved in March 2024, were already watered down and faced legal challenges, leading to a stay.
- The proposed rescission is open to public comment for 60 days.
- Democratic states and the EU have implemented or are implementing similar climate disclosure requirements.