SEC Proposes Rescission of Climate-Related Disclosure Rules

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The U.S. Securities and Exchange Commission announced on May 29, 2026 that it has proposed rescinding, in their entirety, the climate-related disclosure rules it had approved in March 2024, stating the rules exceed its statutory authority. The Commission noted the rules had been stayed on April 4, 2024 pending Eighth Circuit litigation, that it voted on March 27, 2025 to end its defense of them, and that on September 12, 2025 the Eighth Circuit held the petitions in abeyance pending reconsideration or renewed defense. The Commission stated additional policy reasons for rescission, including that the rules are inconsistent with a registrant-specific, materiality-based approach, exceed the concerns of federal securities laws, impose unjustified costs, and conflict with its objectives of facilitating capital formation and promoting public company status. The public comment period will remain open for 60 days following publication of the proposing release in the Federal Register.

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