SEC Urged to Not Tell US Companies to Comply With Alternative Climate-Disclosure Rules

The U.S. Chamber of Commerce objected to the Democrats’ request for the SEC to issue such a statement.

Gary Gensler, chairperson of U.S. Securities and Exchange Commission, speaks during an open session of the Financial Stability Oversight Council at the Treasury Department in Washington on May 10, 2024. Andrew Caballero-Reynolds/AFP via Getty Images

The U.S. Chamber of Commerce on June 17 asked the Securities and Exchange Commission (SEC) to not follow a climate change-related request from 37 Democrat lawmakers. These lawmakers want the SEC to ask U.S. companies to follow different greenhouse gas reporting rules while the SEC’s own climate reporting rule is on hold because of ongoing lawsuits.

Dozens of lawmakers wrote a letter to the SEC on June 4, asking the agency to release a statement reminding U.S. companies that are subject to “alternative climate reporting regimes,” such as those in California or the European Union, that they must comply with those regimes while the SEC’s own climate disclosure rule is under judicial review.