US Chamber of Commerce files lawsuit against SEC over climate risk disclosure rules
![US Chamber of Commerce files lawsuit against SEC over climate risk disclosure rules](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/Untitled-design.webp)
On Thursday, the US Chamber of Commerce announced that it has initiated legal action against the US Securities and Exchange Commission‘s recently implemented regulations mandating public companies to disclose climate-related risks.
The business advocacy organization is among several entities contesting the securities regulator’s rules, which seek to establish uniform disclosures on greenhouse gas emissions, weather-related risks, and companies’ strategies for transitioning to a low-carbon economy.
Also read: Green groups slam SEC over exclusion of Scope 3 emissions in climate disclosure rule
“The final rule makes substantively harmful changes to 50 years of corporate governance precedent that will have implications well beyond this single rule,” said Tom Quaadman, executive vice president US Chamber of Commerce Center for Capital Markets Competitiveness.
An SEC spokesperson said, “The Commission undertakes rulemaking consistent with its authorities and laws governing the administrative process and will vigorously defend the final climate risk disclosure rules in court.”
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