Federal Court Temporarily Halts SEC's New Climate Disclosure Rules

The halt comes after fracking companies challenge the regulations as costly and a violation of free speech.

A federal court on Friday temporarily halted the Securities Exchange Commission's new rules requiring public companies to disclose more about the business risks they face from climate change.
The emergency stay was granted in a case brought by two fracking companies, Liberty Energy and Nomad Proppant Services, who argued the rules were costly, arbitrary, and violated free speech.
The SEC's rules, approved this month, aim to increase transparency on climate risks and greenhouse gas emissions produced by companies.
The U.S. Chamber of Commerce and ten Republican-led states have also filed lawsuits against the rules, calling them unconstitutional.
Climate disasters in the U.S. in 2023 caused a record 28 weather and climate disasters costing at least $1 billion each, highlighting the financial risks tied to climate change.