Nine More States Sue SEC Over Controversial Climate Disclosure Rule

Nine more states, led by Iowa Attorney General Brenna Bird, have filed a lawsuit against the Securities and Exchange Commission’s (SEC) controversial climate disclosure regulations. The lawsuit was filed in the U.S. Court of Appeals for the Eighth Circuit on March 13 and challenges an SEC rule requiring publicly traded companies to reveal to investors any climate-related risks that have or are “reasonably likely” to have a material impact on the business. The rule, which was first proposed by the agency two years ago, also requires some large and midsize companies to disclose how much carbon dioxide is emitted by their operations. The SEC voted 3-2 last week to approve the climate disclosure rule....