SEC axed Scope 3 emissions in its climate rule. Republicans aren’t satisfied.

By Avery Ellfeldt, Kelsey Brugger | 04/11/2024 06:56 AM EDT

GOP lawmakers introduced a measure to nullify the rule this week, as a House hearing focused on a nonexistent provision requiring disclosure of supply chain emissions.

Rep. Frank Lucas (R-Okla.).

Rep. Frank Lucas (R-Okla.), a senior member of the Financial Services Committee, was critical Wednesday of the Securities and Exchange Commission's climate disclosure rule. Francis Chung/POLITICO

This story was updated at 1:55 p.m. EDT.

House Republicans remain convinced the Securities and Exchange Commission’s landmark climate disclosure rule will dramatically impact small, private businesses — despite the fact that the agency gutted the rule to avoid that possibility.

That much was clear during a House Financial Services Committee hearing Wednesday about the final rule, which would require every public company to report the threats they face from climate change. The hearing came a day after House Republicans introduced legislation to nullify the regulation.


At issue during the hearing was the SEC’s handling of so-called Scope 3 emissions, or the greenhouse gases associated with companies’ customers and supply chains.