Implications Of West Virginia v. EPA On Proposed SEC Climate Rules

The Supreme Court, in West Virginia  v. EPA, effectively limited the ability of the EPA to issue significant regulations designed to address climate change absent further Congressional action.  And any Congressional legislation on this issue has, to date, been stymied by resistance from individuals within the razor-thin Democratic majority (especially Senator Manchin (D-W.V.)).  This decision has basically removed one of the key administrative and regulatory tools that the Biden Administration was planning to use in furtherance of its climate agenda. 

This development thus places a greater emphasis--and greater burden--on the SEC's proposed mandatory financial disclosures regarding climate change, as that regulatory rule-making by the SEC remains (for the moment) an available tool for the Biden Administration to achieve its climate goals.  In effect, the SEC's proposed mandatory climate disclosures--which will have, at best, an indirect impact on actions taken to