SEC might back off controversial climate disclosure rule - OK Energy Today
SEC might back off controversial climate disclosure rule - Oklahoma Energy Today
A controversial U.S. Securities and Exchange Commission proposed climate-risk disclosure rule that prompted Oklahoma Congressman Frank Lucas to file a bill opposing it could now be pared back.
Politico reported the final rule might be released in the coming weeks and with less-comprehensive greenhouse gas emissions disclosure requirements. The original plan was proposed nearly two years ago.
At that time in 2022, Oklahoma Rep. Frank Lucas introduced the Protest Farmers from the SEC Act to make sure farmers didn’t fall under the rule, calling the SEC proposal another example of “an encroaching and overreaching Biden administration.”
Politico reported that the SEC, in its latest draft, dropped a mandate for certain large companies to report to investors information about the emissions generated by their suppliers and customers.
Related Knowledge Center: Air emissions
More than 30 years after the last major update of the Clean Air Act, the U.S. Supreme Court has upended the ability of Congress to give the Environmental Protection Agency and other federal agencies broad scope to combat air pollution, including the emission of greenhouse gases. Meanwhile, further Biden administration efforts to limit emissions face opposition in the courts.