SEC Urged by Republican Senators to Drop Climate Disclosure Plan

Senate Republicans are urging the Securities and Exchange Commission to withdraw a proposal that would require companies to disclose greenhouse gas emissions, arguing the move is outside of the agency’s mission.

“It is unclear from where the SEC has derived this drastic change in authority,” top Republicans on the Senate Banking, Housing, and Urban Affairs, and the Environment and Public Works committees wrote in a letter to SEC Chairman Gary Gensler made public Tuesday. “The SEC is not tasked with environmental regulation, nor has Congress amended the SEC’s regulatory authority to pursue the proposed climate disclosures.”

The SEC in March ...