ANALYSIS: Lawsuits Will Ask Major Questions on SEC Climate Rule

The new SEC climate rule was approved March 6. The first related lawsuits have already been filed, and more legal challenges will be on the way. When the SEC first proposed the rule in 2022, it raised hackles, and thousands of comments raising objections were filed with the agency.

Comments can be thought of as a preview of future litigation arguments, and based on the comments, the major questions doctrine is set to lead the way in court challenges, and the non-delegation doctrine is sure to make an appearance.

Given the climate of uncertainty surrounding the Chevron doctrine, ...