Congress Bid to Ax SEC Climate Rule Is ‘Democracy,’ Gensler Says

Republican lawmakers’ effort to toss the SEC’s new corporate greenhouse gas emissions reporting requirements is “part of democracy, it’s part of our system,” agency Chair Gary Gensler said Friday.

The Securities and Exchange Commission leader’s comments were similar to remarks he gave two days earlier on March 6, after 10 Republican attorneys general sued to scrap the regulations. Rep. Bill Huizenga (R-Mich.) and Sen. Tim Scott (R-S.C.) are working on legislation that would rescind the rules.

“This is a rule that will benefit investors and issuers alike,” Gensler told reporters during an Investment Adviser Association conference Friday. “I think it ...