SEC Pauses Final Rules On Climate-Related Disclosures

On April 4, 2024, the SEC issued a stay of its final climate-related disclosure rules. The SEC adopted the long-awaited final rules in March after receiving more than 24,000 comment letters. WilmerHale's summary and analysis of the final rules can be found on the Keeping Current: Disclosure and Governance Developments blog.

While the final rules were scaled back in many respects from the proposed rules, several entities and states filed a flurry of petitions in multiple circuit courts of appeal. In total, nine petitions were filed in six circuit courts of appeal. On March 15, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a motion filed by two petitioners seeking an administrative stay of the final rules.