"The rule... exceeds the agency's statutory authority and imposes unjustified costs."
SEC Moves to Repeal Landmark Climate Disclosure Rule
The Securities and Exchange Commission proposed on Friday to repeal a rule that would have required public companies to report greenhouse gas emissions and climate-related risks.
The rule, finalized in 2024, has been on hold since last year after legal challenges. The SEC stated that the rule exceeds the agency's statutory authority and imposes unjustified costs.
A public comment period will remain open for 60 days after publication in the Federal Register.