SEC Begins Process of Repealing 2024 Climate Disclosure Rule
WASHINGTON — The Securities and Exchange Commission last week formally began the process of rescinding its 2024 rule requiring disclosure of climate-related risk. The regulation was two years in the making and included robust public engagement, with more than 24,000 comment letters and the vast majority of institutional investors supporting a strong rule. The rollback is taking place at the direction of Trump appointee and SEC Chair Paul Atkins, who has aggressively pursued an anti-disclosure, anti-shareholder, and anti-regulation agenda since taking office, pulling back 14 Biden-era proposed rules related to ESG, cybersecurity, and predictive data analytics in June 2025 alone. In response, Clara Vondrich, senior policy counsel with Public Citizen’s Climate Program, issued the following statement:
“Though dreadfully out of touch, it’s not surprising that Trump’s SEC is dismantling yet another piece of historic climate progress. From abandoning the Paris Agreement to repealing the Endangerment Finding—from scrapping fuel economy standards to blocking approval of 165 wind projects—this president is hell bent on harming the health and prosperity of all Americans. You might think that investors who need reliable information would get a bit of special treatment, but they are no match against the mighty Corporate Gods Trump bends and bows to.”
“Climate risk is financial risk. This decision only deprives investors of information that will not only harm them but rattle the markets, or worse, when the climate chickens come home to roost.”
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