Securities and Exchange Commission Climate Reporting Disclosure

These rules were effectively withdrawn on March 27, 2025 when the Securities and Exchange Commission (SEC) notified the Eighth Circuit Court of Appeals that its counsel would cease defending the rules in litigation. On March 21, 2022, the SEC issued proposed rules that would enhance and standardize climate disclosures for publicly listed companies and require them to integrate disclosure information into their SEC filings. These rules were finalized on March 6, 2024. The final rules were significantly less stringent than the initial proposal. Most notably, the final rules had looser thresholds for reporting scope 1 and scope 2 emissions, and there were no requirements to report scope 3 emissions. The final rules would have only required companies to report emissions information when those emissions are “material.” The final rules would also have required disclosure of information regarding a registrant's climate-related risks that “have had or are reasonably likely to have material impact on its business strategy, results of operation, or financial condition.” These rules would have impacted approximately 2,000 publicly listed companies in the United States (US).