SEC Formally Abandons Court Defense Of Climate-Related Disclosure Rule

The Securities & Exchange Commission (SEC) is dropping its legal defense of Biden-era climate-related disclosure rules, though the agency’s sole Democratic member is slamming the decision as seeking to circumvent necessary procedure to rescind the high-profile measure. In addition, climate and investor advocates say the reversal is a “short-sighted” decision that leaves investors without clear, organized information to inform their decisions amid increasing climate-related financial risks. “The goal of today’s Commission action and notification to the court is to cease...