US SEC stays climate-related disclosures
US SEC stays climate-related disclosures
In March 2024, the US SEC adopted its Climate-related Disclosure Rules requiring SEC registrants to provide climate-related disclosures in their financial statements and elsewhere in their filings. Subsequently, petitions were filed seeking judicial review of the rules.
The US SEC has now stayed the rules pending judicial review. The SEC indicated that it has decided to exercise its discretion to stay the final rules pending the completion of judicial review in the US Court of Appeals for the Eighth Circuit. The SEC further noted that it is not departing from its view that the rules are consistent with applicable law. The SEC stated that a Commission stay will facilitate the orderly judicial resolution of the legal challenges and allow the court of appeals to focus on deciding the merits.
The SEC’s order issuing the stay may be accessed here.
The US SEC has now stayed the rules pending judicial review. The SEC indicated that it has decided to exercise its discretion to stay the final rules pending the completion of judicial review in the US Court of Appeals for the Eighth Circuit. The SEC further noted that it is not departing from its view that the rules are consistent with applicable law. The SEC stated that a Commission stay will facilitate the orderly judicial resolution of the legal challenges and allow the court of appeals to focus on deciding the merits.
The SEC’s order issuing the stay may be accessed here.