SEC Climate Rule Foes Draw on Chevron Death to Fight Regulation

Fracking companies urged the Eighth Circuit to reject the SEC’s claim of authority to issue emissions disclosure regulations after the US Supreme Court ended judicial deference to some agency rulemaking.

The Securities and Exchange Commission lacked flexibility under securities laws to require corporate greenhouse gas emissions reporting and other climate disclosures, Liberty Energy Inc. and Nomad Proppant Services LLC said in a brief to the US Court of Appeals for the Eighth Circuit Tuesday. Bloomberg Law reviewed the brief, which the court has yet to make public.

The Supreme Court’s June ruling in Loper Bright Enterprises v. Raimondo overturned its ...