Climate Disclosure: The Latest Maneuvering
There continues to be developments worth noting related to challenges to the SEC's climate disclosure rules, including:
- 31 Congresspeople (30 Republicans and one Democrat) introduced this joint resolution under the Congressional Review Act to try to have the rules nullified. This is a long-shot because President Biden can veto the resolution even if it passed with a majority vote in both the House and the Senate, and it would take two-thirds majorities in each house to override the veto.
- Among others looking to intervene, as noted in this Bloomberg Law article, the US Chamber of Commerce made a motion to intervene in the lawsuit filed by The Sierra Club that argues that the SEC didn't go far enough in its climate disclosure rules. The Chamber of Commerce is also involved in one of the lawsuits seeking to block implementation of the rule.
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