In a statement supporting the move, Commissioner Hester M. Peirce said the U.S. Securities and Exchange Commission has proposed to rescind the climate disclosure rule it adopted in 2024 and is inviting public comment. She framed the proposal as a reversal of a prescriptive climate reporting regime that, in her view, went beyond the agency’s investor-focused disclosure mandate. Peirce argued that the SEC’s disclosure framework should remain merit-neutral and centered on material information about a company’s business and financial characteristics for investors as a class. She said using securities disclosures to pursue broader climate-related policy objectives exceeds the authority Congress gave the SEC, and that the proposal sets out those concerns for public consideration. The next step is public feedback on the rescission proposal. Peirce said the change would take effect only if the proposal is adopted.
U.S. Securities & Exchange Commission2026-05-29
U.S. Securities and Exchange Commission proposes rescinding 2024 climate disclosure rule and seeks public feedback
The U.S. Securities and Exchange Commission has proposed rescinding the climate disclosure rule it adopted in 2024 and is inviting public comment. Commissioner Hester M. Peirce said the move reverses a prescriptive climate reporting regime that she argues exceeds the SEC’s investor-focused disclosure mandate and uses securities disclosures for broader climate policy objectives. She emphasized that the change would take effect only if the proposal is adopted.