The U.S. Securities and Exchange Commission filed a status report with the U.S. Court of Appeals for the Eighth Circuit in the litigation challenging its Climate-Related Disclosure Rules, stating that it does not intend to review or reconsider the rules at this time and declining to spell out how it would proceed if the petitions for review are denied. The court had directed the SEC to clarify whether it planned to revisit the rules and, if it would take no action, whether it would adhere to the rules if the challenges fail. In the filing, the Commission argued it could not elaborate on future policy decisions without prejudging them and suggested any future rulemaking would benefit from a court ruling on the SEC’s statutory authority; it also addressed issues such as whether a live controversy remains. In a separate statement, Commissioner Caroline A. Crenshaw criticised the status report as unresponsive, noted that the Commission has withdrawn from defending the rules in the litigation, and argued that any rescission, repeal, or modification would need to follow the Administrative Procedure Act’s notice-and-comment process, including economic analysis and a transparent public process.
U.S. Securities & Exchange Commission 2025-07-23
U.S. Securities and Exchange Commission tells Eighth Circuit it does not intend to revisit climate-related disclosure rules
The U.S. Securities and Exchange Commission (SEC) filed a status report with the U.S. Court of Appeals for the Eighth Circuit, stating it does not intend to review its Climate-Related Disclosure Rules amid ongoing litigation. The SEC argued it could not predict future policy decisions without a court ruling on its statutory authority. Commissioner Caroline A. Crenshaw criticized the report as unresponsive, emphasizing that changes to the rules must adhere to the Administrative Procedure Act’s notice-and-comment process.