There continues to be developments worth noting related to challenges to the SEC’s climate disclosure rules, including:

  1. 31 Congresspeople (30 Republicans and one Democrat) introduced this joint resolution under the Congressional Review Act to try to have the rules nullified. This is a long-shot because President Biden can veto the resolution even if it passed with a majority vote in both the House and the Senate, and it would take two-thirds majorities in each house to override the veto.
  2. Among others looking to intervene, as noted in this Bloomberg Law article, the US Chamber of Commerce made a motion to intervene in the lawsuit filed by The Sierra Club that argues that the SEC didn’t go far enough in its climate disclosure rules. The Chamber of Commerce is also involved in one of the lawsuits seeking to block implementation of the rule.
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Photo of Allison Handy Allison Handy

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She…

Allison Handy is the firmwide co-chair of the Corporate & Securities practice. Her extensive experience includes advising public and private companies in connection with corporate governance practices, disclosure issues, and capital markets transactions, such as equity offerings, debt offerings and tender offers. She is also a leader of the firm’s Environmental, Social, and Governance advisory team.

Allison provides counsel to companies on a broad range of issues faced by management and directors in connection with the many compliance aspects of securities laws, including governance rules adopted by the Securities and Exchange Commission (SEC) and stock exchanges. She advises boards and committees in matters related to internal investigations and the efforts of shareholder activists, and works closely with in-house counsel, financial personnel, and outside auditors and advisors to help her clients prepare proxy statements and other reports to investors that meet complex disclosure obligations.