The US Securities and Exchange Commission has halted a rule requiring companies to disclose climate risks for the first time, a setback to what was one of the most long-awaited and controversial measures the agency has taken.
In an order issued Thursday, the SEC kept the rule in place pending review from the U.S. Court of Appeals, which is considering a raft of legal challenges against the actions brought by Republican state attorneys general, companies and trade groups.
The SEC stressed that the move does not mean it is “deviating from its view” that the rule is “consistent with applicable law and within” its authority.
But the matter has raised questions about the extent to which the rule will be enforced if the judicial review is not resolved before the presidential election in November.
