Bloomberg Law
June 29, 2021, 10:01 AM

SEC ‘Mission Creep’ on Climate Ups Republican Lawsuit Threats

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter

Republicans and business interests are laying the groundwork for litigation against the SEC over any new mandates for companies to report climate risks and make other environmental, social, and governance disclosures.

Several Republican attorneys general, the American Petroleum Institute, U-Haul International Inc., and others have raised constitutional and statutory concerns as the Securities and Exchange Commission under Chairman Gary Gensler works to propose ESG rules by October.

The SEC is considering mandatory disclosures on greenhouse gas emissions, climate risks, and commitments to combat climate change. The agency would allow “mission creep” by requiring climate disclosures and other ESG reporting ...

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