9 More States Sue SEC Over Controversial Climate Disclosure Rule

US Securities and Exchange Commission (SEC) Chair Gary Gensler testifies before a Senate Banking, Housing, and Urban Affairs Committee oversight hearing on the SEC on Capitol Hill in Washington on Sept. 14, 2021. Evelyn Hockstein/Reuters

Nine more states have filed a lawsuit against the Securities and Exchange Commission’s (SEC’s) controversial climate disclosure regulations.

The lawsuit, led by Iowa Attorney General Brenna Bird, was filed in the U.S. Court of Appeals for the Eighth Circuit on March 13. It challenges an SEC rule requiring publicly traded companies to reveal to investors any climate-related risks that have or are “reasonably likely” to have a material impact on the business.