The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Politics

Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits

by admin April 6, 2024
April 6, 2024
Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits

The Securities and Exchange Commission (SEC) temporarily suspended its controversial rule requiring private companies to disclose carbon emissions data after it was met with a slew of lawsuits. 

The rule, which was finalized in March, was immediately met with litigation by a cohort of 25 GOP attorneys general, along with energy companies Liberty Energy and Nomad Proppant Services, and business groups including the Chamber of Commerce, Texas Alliance of Energy Producers and Domestic Energy Producers Alliance.

Last month, the 5th Circuit Court of Appeals granted a brief administrative stay of the rule while the various lawsuits were consolidated. The groups asked the 8th Circuit to force the SEC to block its rule. On Friday, the SEC voluntarily agreed to temporarily suspend its rule while the litigation continues on the merits. 

‘The mandate is part of Biden’s radical green scheme to influence investments based on climate change theories instead of returns,’ Missouri Attorney General Andrew Bailey said Friday, adding that ‘it would’ve cost Missouri businesses millions of dollars per year.’ 

‘It would’ve required businesses to disclose climate-related risks, including higher insurance rates from weather disasters, and release a plan to adapt to climate agenda recommendations,’ Bailey said.

‘Our message to Joe Biden: you cannot implement this insane climate mandate without an act of Congress. Constitution 101: Separation of powers,’ Bailey stated on X.

In a letter to the 8th Circuit, the SEC said that the stay order ‘reaffirms the Commission’s ‘view that the Final Rules are consistent with applicable law and within the Commission’s long-standing authority,’’

‘As the Commission explains, particularly given the procedural complexities of this litigation, a stay will facilitate this Court’s orderly resolution of petitioners’ challenges and will avoid potential regulatory uncertainty ‘if registrants were to become subject to the Final Rules’ requirements during the pendency of the challenges to their validity,’’ the letter sent Friday states. 

Iowa Attorney General Brenna Bird reacted to the SEC’s announcement Friday, calling the rule ‘Biden’s most outrageous climate mandate for businesses yet,’ and called the SEC’s stay of the rule a ‘huge win.’ 

Under the leadership of Chairman Gary Gensler, whom President Biden appointed to the role, the SEC approved the climate disclosure rules on March 6 in a 3-2 vote after nearly two years of heated deliberations.

The SEC has said that the rules reflect ‘investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks.’ 

And Gensler said they will further guarantee companies ‘produce more useful information than what investors see today.’

Fox News Digital’s Thomas Cattennacci contributed to this report. 

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
House GOP leaders say Biden conditioning US support for Israel will ‘benefit Hamas’
next post
House GOP Ukraine skeptics draw battle lines ahead of funding fight

Related Posts

Echoing Hamas, Erdogan reportedly calls for Israel’s destruction...

March 31, 2025

First on Fox: Top outside group backing House...

October 8, 2024

‘Held accountable’: Sen. Rand Paul again vows to...

July 15, 2025

Biden undermines Harris claim that Ron DeSantis is...

October 9, 2024

Democrats join DOGE subcommittee, including member seeking ‘good...

January 22, 2025

Kamala rides tsunami of positive press, but skeptics...

July 24, 2024

War-torn regions have keen interest in US elections

October 30, 2024

Harris leads Trump by 4 nationally as both...

November 5, 2024

Deadline for Musk’s ultimatum to federal workers hits,...

February 25, 2025

Max inclusivity: Harris campaign is letting new hires...

August 15, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Amazon lays off over 100 employees in Wondery unit as part of audio business restructuring

      August 6, 2025
    • U.S. farm agency allows six more states to bar some items from food aid

      August 6, 2025
    • Murdoch to provide Trump health updates in deal to delay Epstein case deposition

      August 6, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      August 6, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 6, 2025
    • Supreme Court orders new arguments in pivotal elections case

      August 6, 2025

    Categories

    • Business (1,323)
    • Politics (4,177)
    • Stocks (1,569)
    • Uncategorized (45)
    • World News (1,316)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved