SEC votes to stop the defense of climate disclosure rules

Washington (DPA-AFX)-the US-values and exchanges has announced that it has decided to end the defense of the rules that mandate companies to reveal risks related to climate and greenhouse gas emissions.

The interim president of the SEC, Mark Uyda, said: “The objective of the action of today’s commission and the notification to the court is to cease the involvement of the Commission in defending the rules of disclosure of costly and unusual climate change.”

The rules, adopted by the Commission on March 6, 2024, create a special detailed and extended disclosure regime about the climatic risks for issuing and reporting companies.

Since assuming the position, President Donald Trump has moved to dismantle almost all the initiatives of the previous administration aimed at combating climatic changes.

Following the commission’s vote, the SEC personnel sent a letter to the court stating that the Commission withdraws its rules and that the Commission Councilor is no longer authorized to promote the arguments from the information that the Commission has submitted.