The Securities and Exchange Commission's (SEC) new climate disclosure rules, requiring public companies to report climate-related risks including Scope 3 emissions that account for 87% of the food industry's carbon footprint, have sparked a series of legal challenges. These rules have been met with opposition, particularly from the livestock industry, represented by Lucrezia Tincani of FAIRR, and small and medium-sized businesses, despite some final changes aimed at placating these groups. A series of lawsuits challenging the SEC's authority to mandate these disclosures, supported by Republican-led states and a business group, have been consolidated and will be reviewed by the conservative-leaning Eighth Circuit court. This consolidation comes after the Fifth Circuit restored the SEC's climate disclosure regulations, which had been paused earlier in the month. The litigation and regulatory pushback highlight the contentious nature of mandating climate risk reporting in the corporate sector.
Emissions Are Not a Material Risk to Investors or Companies, SEC’s Climate Disclosure Rule Is https://t.co/gqfed8pXSy
The Fifth Circuit restored the SEC's climate disclosure regulations on Friday after it paused the rules earlier this month. https://t.co/O8ZKxGYkeY
Litigation over whether the SEC can require public companies to disclose their greenhouse gas emissions will be consolidated and reviewed by the conservative-leaning Eighth Circuit. https://t.co/vhMeCPjCUn
Republican AGs Challenge SEC’s Climate Disclosure Rule https://t.co/Yoyy3w45fA
Challenges to SEC's climate rules sent to conservative-leaning US appeals court https://t.co/MeRDjLb0FY
A US judicial panel consolidated at least nine lawsuits challenging the SEC's new rules requiring public companies to report climate-related risks in a venue favored by Republican-led states and a business group https://t.co/mprFstyG1A https://t.co/s00t6DsBrP
SEC climate rule suits head to Eighth Circuit after lottery https://t.co/2m1AbqGpPE
Opinion: Companies must be made to disclose Scope 3 emissions https://t.co/IfX8F1ae1o
Though the Securities and Exchange Commission has faced widespread opposition to its climate rule, one group seems mostly placated after some final changes: small and medium-size businesses https://t.co/6vEr0xWblA https://t.co/6vEr0xWblA
🌱@FoodDive reports on the SEC's recent climate rule exemption for Scope 3 emissions, accounting for 87% of the #food industry's carbon footprint. Lucrezia Tincani, Acting Policy Director at FAIRR, stresses the potential vulnerability of the #livestock industry to climate risks.