Georgia Leads Group Of Ten States In Challenging SEC’s New Law

On Thursday, Georgia Attorney General Chris Carr announced that his state would be leading a group of ten states in challenging the new climate disclosure rule from the United States Securities and Exhange Commission (SEC). 

The rule aims to require companies to produce exhaustive and costly disclosures concerning greenhouse gas emissions, climate risks, and risks related to the physical impact of storms, drought, and higher temperatures. Carr has called on the 11th Circuit Court of Appeals to declare the rule unlawful and vacate it entirely. 

“President Biden is using the SEC to impose his climate agenda on every sector of our economy,” said Carr. “This unlawful rule will burden businesses with unnecessary requirements, and we’re pushing back on behalf of our fellow Georgians.” 

In a Petition for Review, the attorneys general argue that the SEC’s final rule: 

  • Exceeds the agency’s authority; 
  • Is arbitrary and capricious; 
  • An abuse of discretion; and 
  • Not in accordance with law. 

Georgia was joined by the following states: Alabama, Alaska, Indiana, New Hampshire, Oklahoma, South Carolina, Virginia and Wyoming. 

D & B Staff

More from this show

Subscribe

Episode 18