Biden Admin Finalizes Rule Forcing Companies to Disclose Climate-Related Risks

The Biden administration on Wednesday finalized a controversial rule requiring companies to disclose climate-related financial risks, drawing a flurry of reactions. Environmental groups complained it was not tough enough, while Republican leaders in ten states have already filed suit to block it. The Securities and Exchange Commission (SEC) voted 3-2 along party lines on March 6 to approve the climate disclosure rule, which sets more stringent standards for how companies communicate with investors about greenhouse gas emissions and weather-related risks. “Today, the Biden administration has once again gone on the attack against America’s energy industry,” West Virginia Attorney General Patrick Morrisey, a Republican who is leading a coalition of ten states in a legal challenge to the new rule, said at a press conference....