"The acting chair, Mark Uyeda, is directing the Securities and Exchange Commission to pause its legal defense of a rule requiring companies to make climate disclosures."
"The acting chair of the Securities and Exchange Commission, Mark Uyeda, took the first step on Tuesday to rolling back a rule that would require thousands of publicly traded companies to provide investors with detailed information about the impact of their businesses on climate and the environment.
Mr. Uyeda said in a statement that he was directing the S.E.C.’s legal team to inform a federal appellate court that the regulator was pausing its defense of the so-called climate change disclosure rule. The regulation, adopted last year, is being challenged in court by a number of business groups and state attorneys generals.
The polarizing measure requires companies to identify the impact of their business activities on the climate and environment. Companies must provide data in regulatory filings that will help investors quantify the impact and risk to their investment in a company. Companies also most provide information about the financial cost of steps it is taking to minimize the climate impact of its business activities.
The rule aims to give investors a clearer picture of the risks that companies might be exposed to because of climate change and its effects, including droughts and wildfires, changes in government environmental policies or consumers’ declining interest in products that contribute to global warming."
Matthew Goldstein reports for the New York Times February 11, 2025.
Advertisement 
