Federal appeals court blows up Biden’s carbon emissions disclosure rule – By Thomas Catenacci (FOX Business) / March 18, 2024
Climate disclosure rules are latest in ‘unprecedented assault on our capital markets,’ Michigan Republican says
A federal appeals court paused financial rules issued by the Securities and Exchange Commission (SEC) that will force private companies to publicly disclose their carbon emissions and risks climate change poses to their business.
In a short ruling issued Friday, the U.S. Court of Appeals for the Fifth Circuit paused the SEC’s climate disclosure rule, but declined to offer any explanation for the decision. The ruling, though, came in response to petitions for review filed by energy companies Liberty Energy and Nomad Proppant Services, the states of Louisiana, Mississippi and Texas, and business groups Chamber of Commerce, Texas Alliance of Energy Producers and Domestic Energy Producers Alliance.
“For two years now, the U.S. Chamber of Commerce has raised significant concerns about the scope, breadth, and legality of the SEC’s climate disclosure efforts,” Tom Quaadman, the executive vice president of the Chamber of Commerce’s Center for Capital Markets Competitiveness, said in response to the SEC’s disclosure rules.
