A coalition of red states announced Wednesday that they are challenging the Biden administration over its fresh corporate emissions and climate disclosure rule, just hours after the Securities and Exchange Commission greenlit the measure.
The SEC moved Wednesday to finalize new rules legally requiring certain public companies to report climate-related risks to their businesses and disclose data on the greenhouse gas emissions that their business operations directly generate.
A group of ten Republican state attorneys general are suing the Biden administration over the rule, arguing that it is an unconstitutional attempt to impose climate regulation through the back door using an agency that does not have much to do with climate-related rulemaking.
The final rule approved Wednesday is a weakened version of the SEC's March 2022 proposal.
The final rule mandates medium-sized and large companies to report emissions attributable to the electricity they use to power their business operations starting in fiscal years 2026 and 2028, respectively.
The rule also requires relevant companies to report their organizational climate goals, such as plans to ditch fossil fuels.
"The Commission undertakes rulemaking consistent with its authorities and laws governing the administrative process and will vigorously defend the final climate risk disclosure rules in court," a spokesperson for the SEC told the Daily Caller News Foundation.
https://dailycaller.com/2024/03/06/red-states-challeneg-biden-sec-climate-rule/
No comments:
Post a Comment