The Sierra Club and other environmental groups – including the Environmental Defense Fund, Clean Air Task Force, Natural Resources Defense Council, and Earthjustice – have urged the US Securities and Exchange Commission (SEC) not to rescind its climate-related disclosure rule.
In May, the SEC opened a public consultation on a proposal to overturn the rule which it adopted in 2024 but never implemented.
In response, environmental groups argue that climate disclosures are decision-useful for investors, that climate-related financial risks are accelerating, and that the rule falls within the SEC’s statutory authority.
Jessye Waxman, Sierra Club sustainable finance campaign advisor, stated: “The SEC is choosing politics over investors. Investors have spent more than a decade asking for consistent, comparable climate-related information because climate risk is financially material.
“By proposing to rescind this rule, the SEC is abandoning its responsibility to protect investors and maintain fair, orderly, and efficient markets,” she continued.