House panel OKs rollback of climate disclosure rules

By Emma Dumain | 04/18/2024 06:18 AM EDT

The Financial Services Committee passed four measures against pushing companies to account for greenhouse gas emissions

Rep. Bill Huizenga (R-Mich.).

Rep. Bill Huizenga (R-Mich.), chair of the Financial Services Subcommittee on Oversight and Investigations, has been a driving force behind legislation against climate rulemaking. Jonah Elkowitz for POLITICO

House Republicans were united Wednesday in advancing a series of bills and resolutions that would undercut efforts by federal financial regulators compelling companies to account for climate change.

The GOP-led House Financial Services Committee voted along party lines to pass four Congressional Review Act resolutions that would reverse recent rules and sets of guidance promulgated by four independent agencies, all designed to acknowledge the risks of global warming on the financial markets. Democrats decried the Republican proposals as anti-environmental, anti-free market and anti-transparency.

Republicans also approved a bill that would hinder the federal collection of data from insurers to assess climate-related financial risk. While that measure stands no chance of being considered in the Democratic-controlled Senate, GOP lawmakers hope they’ll see support for the CRA measures across the Capitol, where moderate Democrats could side with Republicans in forcing President Joe Biden to veto efforts that align with key planks of his larger environmental agenda.


In the Senate, CRA resolutions only require a simple majority for adoption.