Wall Street’s top regulator is asking a federal court to keep hearing legal challenges to an embattled Biden-era climate disclosure rule — even though it’s no longer defending the rule in court.
In a status report filed Wednesday with the 8th U.S. Circuit Court of Appeals, the Securities and Exchange Commission said it doesn’t plan at this time “to review or reconsider” the rule that requires public companies to disclose risks posed to their operations from climate change. But it says the court should proceed “and exercise its jurisdiction to decide the case.”
The letter from SEC attorney Tracey Hardin comes four months after the commission said it would stop defending the rule in court.
The letter asks the court to continue the proceedings, saying a decision “would help determine the scope and need for further rulemaking.”
