SEC climate rule critics make their case in court

By Lesley Clark | 06/18/2024 06:30 AM EDT

The Biden administration has paused the rule pending litigation. Business groups want it gone for good.

The seal of the U.S. Securities and Exchange Commission.

Securities and Exchange Commission headquarters in Washington. Andrew Harnik/AP

Critics of the Securities and Exchange Commission’s climate disclosure rule are asking a federal appeals court to permanently scrap the now-paused regulation, arguing it would impose an “extraordinary burden” on companies to comply.

In a brief filed Friday with the 8th U.S. Circuit Court of Appeals, the U.S. Chamber of Commerce, National Center for Public Policy Research and other groups argued that the rule from Wall Street’s top regulator seeks to “micromanage businesses” and is “unlawful several times over.”

The Biden administration in early April voluntarily paused the climate disclosure rule in the face of nearly a dozen lawsuits.


The New Civil Liberties Alliance, which is representing the National Center for Public Policy Research in the litigation, filed a joint opening brief Friday with the Chamber, demanding a final end to the SEC’s “unconstitutional pursuit of climate activism.”