The Securities and Exchange Commission (SEC) approved a new rule on March 6 requiring public companies to disclose emissions and other climate-related details. This regulation, aimed at increasing transparency for investors on climate risks, is expected to boost the sustainable accounting industry, potentially increasing spending by filers on assurance firms by up to $907 million a year, an 18% increase over current levels. However, the rule has faced significant opposition, leading to a flurry of lawsuits from states, companies, and nonprofits, with West Virginia Attorney General Patrick Morrisey accusing the SEC of exceeding its authority. The Fifth Circuit Court has temporarily blocked the rule, prompting reactions from various sectors. House Republicans celebrated the court's decision, while the rule's suspension has sparked debates about the SEC's approach to climate disclosure and its implications for the fossil fuel industry.
New SEC Emissions Disclosure Rules Spark Mixed Reactions https://t.co/WRUy6zHlUV
U.S. Court Halts New Rule Requiring Climate Risk Disclosures from Fossil Fuel Business https://t.co/I3fdbmShce
SEC's Climate Disclosure Rule Prompts More Legal Challenges, GOP's Continuing Wrath https://t.co/81TIxJeqoh
U.S. Court Halts New SEC Rule Requiring Climate Risk Disclosures from Fossil Fuel Industry https://t.co/I3fdbmShce
House Republicans took a victory lap after a federal appeals court pressed pause on new rules from the Securities and Exchange Commission that would require publicly listed companies to disclose climate risks. https://t.co/c71xWaZHQO https://t.co/Wj3yLd7f8a
New SEC requirement to disclose emissions and other climate-related activities will spur demand for auditing and accounting work. https://t.co/OAxFY8YrSG
The SEC severely weakened its climate-disclosure rule before issuing it, in an attempt to mollify industry. Industry responded by immediately suing & now it has found a judge willing to impose a stay on the rule. What's the lesson here? https://t.co/6pKHZBHab8
The SEC on March 6 approved a new rule for public companies to disclose emissions and other climate-related details estimating the rule will increase spending by filers on assurance firms by up to $907 million a year, an 18% increase over current levels https://t.co/TiR6WYesUL https://t.co/K4lLcJCJcW
Court grants stay in lawsuit challenging SEC climate disclosure rule https://t.co/5oVXBrX8Mk via @pensionsnews
That Didn't Take Long . . . #FifthCircuit Temporarily Blocks New #SEC #Climate Disclosure Rule https://t.co/EY6p6ClSbW @Mintz_Law @south_fifth @SteveBlumeSEC https://t.co/wU7vOQjjSn
New US climate-disclosure regulations should boost demand for services of the Big Four accounting firms and more specialized reviewers, and could sharpen a rivalry between the two camps, executives and analysts said https://t.co/TiR6WYdV5d https://t.co/5tXWJZ0Oci
US climate rule will boost sustainable accounting industry https://t.co/nFUc6FMGT1 https://t.co/0tkzZV9uhn
SEC faces avalanche of lawsuits from states, companies, and nonprofits over climate rule West Virginia Attorney General Patrick Morrisey said the SEC is exceeding the authority Congress granted it to be a financial regulator. Read more ⬇️ https://t.co/YWuwse4r4B