SEC moves to formally rescind corporate climate disclosure requirements
Summary
The Securities and Exchange Commission (SEC) has proposed to cancel a rule set for 2024 that would have required companies that sell stock to share information about how climate change affects their business. This decision comes from the SEC commissioners, who are currently all Republicans, removing the earlier requirement on climate-related disclosures.Key Facts
- The SEC proposed to take back the 2024 rule on climate-related disclosures.
- The rule would have made public companies report how climate change impacts their operations.
- The SEC now has three Republican commissioners and no Democratic commissioners.
- The original rule was approved under a previous SEC commission.
- This move is part of the SEC’s effort to change corporate reporting requirements.
- Public companies will no longer be required to provide specific climate risk information.
- The SEC officially announced this proposal on a Friday.
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