California Emissions Disclosure Suit Foreshadows SEC’s ObstaclesFebruary 7, 2024 – Article
Environmental Partner Sedina Banks and Attorney Sam Pannier authored, "California Emissions Disclosure Suit Foreshadows SEC’s Obstacles" in Bloomberg Law.
A federal lawsuit filed Jan. 30 by the US and California Chambers of Commerce and four business groups—the American Farm Bureau Federation, Los Angeles County Business Federation, Central Valley Business Federation, and Western Growers Association—seeks to block California’s recently enacted landmark corporate climate change disclosure laws on constitutional grounds.
The current lawsuit may be an indication of the types of challenges the Securities and Exchange Commission could face once its climate change disclosure rules are adopted. It may also motivate the SEC to further delay adoption of its rules, which have been in the works for almost two years but have received industry pushback including from the plaintiff, the US Chamber of Commerce.
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