More states join Oklahoma’s lawsuit against SEC over climate disclosure mandate


(AP Andrew Harnik, File)


Iowa Attorney General Brenna Bird led a 9-state coalition this week in joining Oklahoma and 9 other states that filed suit last week against the Securities and Exchange Commission over its new rule forcing public traded companies to reveal some climate-related information to potential investors.

“Not only will this mandate impose costly red tape on businesses, but it will devastate our supply chain and hurt Iowa family farms,” said Iowa Attorney General Brenna Bird (R) in a written statement.

Iowa was joined by Arkansas, Idaho, Missouri, Montana, Nebraska, North Dakota, South Dakota and Utah, as well as a group called the American Free Enterprise Chamber of Commerce.

They are challenging the rule that requires publicly traded companies to reveal risks that climate change may pose to their business. The rule also forces some large companies to disclose how much carbon dioxide is released into the atmosphere by their operations.

Like Oklahoma, the nine states contend the rule results in unnecesary burdens for businesses and also forces them to reveal information they might need to keep confidential. Oklahoma was joined by West Virginia, Georgia, Alabama, Alaska, Indiana, New Hampshire, South Carolina, Wyoming and Virginia.

Source: The Hill