Republican AGs Challenge SEC’s Climate Disclosure Rule

  • A coalition of nine Republican AGs, led by Iowa AG Brenna Bird, has filed a petition for judicial review of the SEC’s climate related disclosure rule, which would require companies to disclose their greenhouse gas emissions.
  • In the press release, the AGs assert that the new rule imposes unnecessary red tape and demands that business owners reveal proprietary information that could impact their competitive positioning. The AGs also claim the SEC’s rule would compel businesses to disclose climate-related risks, including higher insurance premiums for weather disasters, and release a plan to adapt to climate agenda recommendations.
  • In the petition, the AGs assert that, should the court review the agency action, the AGs will demonstrate that the SEC’s final rule exceeds the commission’s statutory authority and is otherwise arbitrary, capricious, an abuse of discretion, and not in accordance with the law. The AGs request that the Eighth Circuit Court of Appeals declare the final rule unlawful and vacate the SEC’s final action.