• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits
Economy

Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits

by April 6, 2024
by April 6, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The Securities and Exchange Commission (SEC) temporarily suspended its controversial rule requiring private companies to disclose carbon emissions data after it was met with a slew of lawsuits. 

The rule, which was finalized in March, was immediately met with litigation by a cohort of 25 GOP attorneys general, along with energy companies Liberty Energy and Nomad Proppant Services, and business groups including the Chamber of Commerce, Texas Alliance of Energy Producers and Domestic Energy Producers Alliance.

Last month, the 5th Circuit Court of Appeals granted a brief administrative stay of the rule while the various lawsuits were consolidated. The groups asked the 8th Circuit to force the SEC to block its rule. On Friday, the SEC voluntarily agreed to temporarily suspend its rule while the litigation continues on the merits. 

‘The mandate is part of Biden’s radical green scheme to influence investments based on climate change theories instead of returns,’ Missouri Attorney General Andrew Bailey said Friday, adding that ‘it would’ve cost Missouri businesses millions of dollars per year.’ 

‘It would’ve required businesses to disclose climate-related risks, including higher insurance rates from weather disasters, and release a plan to adapt to climate agenda recommendations,’ Bailey said.

‘Our message to Joe Biden: you cannot implement this insane climate mandate without an act of Congress. Constitution 101: Separation of powers,’ Bailey stated on X.

In a letter to the 8th Circuit, the SEC said that the stay order ‘reaffirms the Commission’s ‘view that the Final Rules are consistent with applicable law and within the Commission’s long-standing authority,’’

‘As the Commission explains, particularly given the procedural complexities of this litigation, a stay will facilitate this Court’s orderly resolution of petitioners’ challenges and will avoid potential regulatory uncertainty ‘if registrants were to become subject to the Final Rules’ requirements during the pendency of the challenges to their validity,’’ the letter sent Friday states. 

Iowa Attorney General Brenna Bird reacted to the SEC’s announcement Friday, calling the rule ‘Biden’s most outrageous climate mandate for businesses yet,’ and called the SEC’s stay of the rule a ‘huge win.’ 

Under the leadership of Chairman Gary Gensler, whom President Biden appointed to the role, the SEC approved the climate disclosure rules on March 6 in a 3-2 vote after nearly two years of heated deliberations.

The SEC has said that the rules reflect ‘investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks.’ 

And Gensler said they will further guarantee companies ‘produce more useful information than what investors see today.’

Fox News Digital’s Thomas Cattennacci contributed to this report. 

This post appeared first on FOX NEWS
You Might Also Like
  • WV state lawmaker Elliott Pritt switches from Dem to GOP
  • SafeMoon and Litecoin: Levels and Prices for Tuesday
  • Outgoing Dutch PM tells Europe to stop ‘whining and nagging about Trump’
  • House Intel Chair Turner brings Biden’s alleged mishandling of classified records into impeachment inquiry
Share
0
FacebookTwitterPinterestWhatsapp

previous post
CIA denies whistleblower allegation that agency ‘stonewalled’ IRS interview with Hunter Biden ‘sugar brother’
next post
House GOP leaders say Biden conditioning US support for Israel will ‘benefit Hamas’

You may also like

Boston mayor Michelle Wu under fire after sending list of...

July 16, 2023

New Hampshire Senate kills recreational marijuana bill

May 12, 2023

Hamas claims it will ‘protect’ hostages, release them ‘when circumstances...

October 17, 2023

White House kills another top Biden nominee amid mounting opposition

May 31, 2023

Biden’s Cabinet doubles down on support for president amid calls...

July 24, 2024

Federal judge in Virginia strikes down laws banning gun sales...

May 12, 2023

Biden doesn’t support ‘full-term’ abortion stance pushed by RFK Jr,...

May 15, 2024

DOJ appeals to Supreme Court after court invalidates domestic violence...

March 19, 2023

Biden administration to erase medical debt records from credit reports,...

September 22, 2023

UN holds moment of silence for ‘Butcher of Tehran’ Raisi...

May 21, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,531)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The V Reversal is Impressive, but is it Enough?

      May 9, 2025
    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,531)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    House Oversight Democrats eye Michael Cohen...

    March 16, 2024

    Former Pennsylvania congressman, ‘King of Asphalt’...

    April 20, 2023

    Jim Jordan previews main focus of...

    March 19, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here