"The preliminary ruling could spell trouble for the Biden administration’s new climate disclosure requirements."
"Federal judges have temporarily halted a landmark new climate reporting rule, sidelining efforts by Wall Street’s top regulator to uncover the risks U.S. corporations and their investors face from rising global temperatures.
Judges of the 5th U.S. Circuit Court of Appeals sided Friday with two fracking companies that had asked for an emergency stay of the “expansive and novel requirements” that they say the Securities and Exchange Commission has imposed on them. The companies’ preliminary victory could spell legal trouble for the SEC rule, which faces court challenges from the energy industry and environmentalists.
The rule — a first-of-its-kind effort to require public companies to start reporting a raft of new climate-related information to investors — has drawn lawsuits from industry groups and environmentalists."
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