A federal court on Friday temporarily halted new rules from the Securities Exchange Commission that require public companies to disclose more about the business risks they face from climate change, siding with two oil and gas companies that criticized the requirements as costly and arbitrary.
this month, the rules require some publicly traded companies to disclose their climate risks, and how much greenhouse gas emissions they produce.
Ten Republican-led states have also sued to stop the rules.
to effectively regulate the controversial issue of climate change,” the two companies wrote in their petition.
They were “arbitrary and capricious,” the two companies said, and violated the First Amendment, which protects free speech, by “effectively mandating discussions about climate change.”
Persons:
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Organizations:
Securities Exchange Commission, Industry, U.S . Chamber of Commerce, U.S ., Appeals, Fifth Circuit, Republican, Fifth, Liberty Energy, Nomad Proppant
Locations:
U.S