House Financial Services Committee
The SEC's Climate Rule
On Wednesday, April 10, 2024, at 10:00 a.m. (ET) in 2128 Rayburn House Office Building, the House Financial Services Committee will hold a hearing entitled: “Beyond Scope: How the SEC’s Climate Rule Threatens American Markets.”
Witnesses- Elad Roisman, Partner, Cravath, Swaine & Moore LLP and former Commissioner and Acting Chairman of the U.S. Securities and Exchange Commission
- Robert Stebbins, Partner, Willkie Farr & Gallagher LLP and former General Counsel of the U.S. Securities and Exchange Commission
- Chris Wright, Chief Executive Officer of Liberty Energy
- Joshua T. White, Assistant Professor of Finance, Owen Graduate School of Management, Vanderbilt University
- H. J. Res. ___, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to “The Enhancement and Standardization of Climate- Related Disclosures for Investors”
On March 6, 2024, the Securities and Exchange Commission voted 3-2 to adopt an 886-page rule entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors”. The rule changes existing disclosure obligations for public companies. The rule imposes new obligations including but not limited to scope 1 and 2 greenhouse gas (“GHG”) emissions; climate-related risks; board oversight of climate risks; management’s assessment and management of climate-related risks; climate-related targets and goals; and financial statement effects of certain climate related risks.