The U.S. Securities and Exchange Commission is expected to pare back a long-awaited climate-risk disclosure rule that has sparked a furious backlash from business lobbyists and GOP lawmakers, a person familiar with the matter said.
The final rule, which could be released in the coming weeks, is likely to include less-comprehensive greenhouse gas emissions disclosure requirements for public companies than the original plan, which was proposed almost two years ago, the person said.
The SEC issued the proposal in an effort to provide new clarity and standardization to corporate climate disclosures.
If finalized, the scaled-back rule could represent a major victory for groups like the U.S. Chamber of Commerce and the American Farm Bureau Federation that have questioned the legality of the proposal and the agency’s authority to compel such disclosures.
