The Securities and Exchange Commission paused implementation of a climate rule requiring certain companies to disclose greenhouse gas emissions after a coalition of Republican-led states challenged the rule.
On Thursday, the SEC alerted the Eighth Circuit Court of Appeals that it would hold off finalizing the climate rule while it faced a lawsuit from 25 states led by Iowa. The states argue that the SEC has overstepped its authority by attempting to put in place the climate rule without congressional approval.
“Today’s victory shuts down the most outrageous climate mandate for businesses since Biden took office,” said Iowa Attorney General Brenna Bird. “The SEC’s job is to protect people from fraud. It has no business slapping companies with extremist climate mandates. We are making it clear that Biden has to follow the law like everyone else.”
“By halting this…
