Sen. Tim Scott is leading an effort to overturn the Securities and Exchange Commission's climate disclosure rule, and he's picked up support from Democrat Sen. Joe Manchin III.
The sun sets behind an idle pump jack near Karnes City, Texas, April 8, 2020. The U.S. Securities and Exchange Commission paused on Thursday, April 4, 2024, the implementation of its new climate disclosure rule while it defends the regulation …’s final climate disclosure rule threatens economic opportunity across the country, and it must be overturned,” Mr. Scott said.
The rule also requires companies to disclose any information about plans to transition to a low-carbon economy.’s mission is to regulate our capital markets and ensure all Americans can safely share in their economic success – not to force a partisan climate agenda on American businesses. This rule is federal overreach at its worst, and theThe resolution has 34 co-sponsors including Mr. Manchin of West Virginia.
Mr. Manchin said the rule “completely contradicts its long-standing commitment to protect investors and promote a fair and efficient U.S. financial market.” “This deliberate targeting of fossil fuel companies not only threatens our economic security, but also sends a strong signal of opposition to the all-of-the-above energy policy that is absolutely critical to our country and our allies right now,” he said.“Climate risk is financial risk. This is a sensible rule to protect investors,” Elizabeth Derbes of the Natural Resources Defense Council, said when the rule was finalized in March. “What’s wrong with this rule is that it needs to do much more.
B Environment Becurities And Exchange Commission B Joe Manchin Iii
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