Ten petitions for review were filed in six circuit courts of appeal after the U.S. Securities and Exchange Commission (SEC) adopted a final rule requiring disclosures of climate-related information. Challenges to the final rule were filed by energy companies, business and industry groups, states, environmental organizations, and an organization that owns shares in companies subject to the rule and that frequently advocates to oppose efforts to advance resolutions related to climate change. The SEC submitted a notice of multicircuit petitions for review to the Judicial Panel on Multidistrict Litigation, which randomly selected the Eighth Circuit as the venue in which to consolidate the nine petitions.

Challenge to the U.S. Securities and Exchange Commission's final rule on climate-related disclosures. 

In re Securities & Exchange Commission, The Enhancement & Standardization of Climate-Related Disclosures for Investors, Issued on March 6, 2024

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Challenges to SEC Climate Disclosure Rule Consolidated in Eighth Circuit

Filed

United States of America

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Justice is the ethical and political framework that addresses fairness, including issues of responsibility, rights, and structural inequity.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

This sector involves the wholesale and retail selling of goods.

Challenges to SEC Climate Disclosure Rule Consolidated in Eighth Circuit

Economic sector