Subscribe to Receive the Daily Report

Sunday, September 18th, 2022

Republicans plan legal assault on climate disclosure rules for public companies

Author:     Adam Lowenstein
Source:     The Guardian (U.K.)
Publication Date:     Thu 15 Sep 2022 05.00 EDT
 Link: Republicans plan legal assault on climate disclosure rules for public companies
Stephan:   And here was have another sordid tale of MAGAT Republican corruption. I find it amazing that so many Americans can't seem to recognize that Republican officials at both the federal and state levels, be they men or women, don't give a damn for the people they represent and are supposed to serve. The only thing they care about is their own power, and their own wealth. This story makes the point very clearly. The Republicans, as this tale describes, are working to protect the corporations that are literally destroying the earth's ecosystems and the wellbeing of all humanity. And why are they doing this? For money and their continued power, of course. And they rely on Americans to not be smart enough to get that.
Business Roundtable has successfully sued the SEC in the past. Credit: Leigh Vogel/EPA

Republican officials and corporate lobby groups are teeing up a multi-pronged legal assault on the Biden administration’s effort to help investors hold public corporations accountable for their carbon emissions and other climate change risks.

The US Securities and Exchange Commission (SEC) proposed new climate disclosure rules in March that would require public companies to report the climate-related impact and risks to their businesses.

The regulator has since received more than 14,500 comments. Submissions from 24 Republican state attorneys general and some of the country’s most powerful industry associations suggest that these groups are preparing a series of legal challenges after the regulation is finalized, which could happen as soon as next month.

“I would expect a litigation challenge to be brought immediately once the final rule is released,” Jill E Fisch, a business law professor at the University of Pennsylvania, told the Guardian. “They probably have their complaints already drafted, and they’re ready to file.”

Some opponents claim that requiring companies to publish climate-related information infringes on their right […]

Read the Full Article