According to Crypto Briefing and a statement from Senator Tim Scott, the SEC’s proposed repeal of its 2024 climate disclosure rules has political backing but could reduce reporting uniformity for investors.
The U.S. Securities and Exchange Commission has proposed fully rescinding its 2024 climate disclosure rules, with SEC Chairman Paul S. Atkins arguing the requirements are overly burdensome, costly, outside the agency’s statutory authority, and inconsistent with a materiality-based disclosure framework. A statement says Chairman Senator Tim Scott supports Atkins and has long opposed the rule, arguing the SEC should focus on its core mission rather than pursue a climate agenda through corporate disclosure requirements. The rules, adopted in March 2024, would have required public companies to disclose climate-related information in registration statements and annual reports, including greenhouse gas emissions, climate risk management, and financial statement effects from severe weather events. The SEC stayed the rules on April 4, 2024, voted on March 27, 2025, to end its defense in litigation, and the U.S. Court of Appeals for the Eighth Circuit paused consolidated petitions on Sept. 12, 2025, while the agency reconsiders the rules through notice-and-comment rulemaking or renews its defense. Crypto Briefing said the rollback could leave climate reporting less consistent, potentially complicating investor comparisons and increasing reliance on state-level and international standards. The proposal will be open for public comment for 60 days after publication in the Federal Register.