Republicans Say SEC Climate Rule Seeks To Wield Legislative Authority

Republican lawmakers are backing a legal challenge to the Securities and Exchange Commission’s (SEC) climate-related disclosure rule, asserting the rule attempts to exercise legislative authority by setting climate policy rather than financial standards. Lawmakers “emphasize their full support of the legislative process and together recognize that Congress is the constitutionally appropriate forum for addressing the major policy questions addressed in the climate rule,” Sens. Kevin Cramer (R-ND), John Barrasso (R-WY) and nearly three dozen of other lawmakers write in an...