Amid legal challenges, SEC pauses implementation of its climate rule
The U.S. Securities and Exchange Commission said it would pause the implementation of its new climate disclosure rule while it defended the regulation in court. Wall Street’s top regulator voted in March on the final rule, which requires some public companies in the U.S. to report their greenhouse gas emissions and climate risks. The measure faced legal challenges almost immediately. The SEC said Thursday it had stayed the rule to avoid regulatory uncertainty for companies that might have been subject to the rules while litigation against it proceeds. The rule is pending review in the U.S. Court of Appeals for the Eighth Circuit.