WASHINGTON, D.C. — Mike Flood, senior vice president of the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce, issued the following statement regarding the SEC's decision to rescind its climate disclosure rule.
"The Chamber is encouraged that the SEC is returning to the core principle of materiality, allowing investors to gather crucial business information through corporate disclosure. The SEC's climate disclosure rule would have far-reaching negative effects on the U.S. economy and further disincentivize companies from going public in the United States. We look forward to working with the SEC on this important issue."
In 2024, the Chamber sued to block this Biden-era regulation, challenging the SEC's authority to impose sweeping disclosure requirements. The rule was stayed as a result of the Chamber’s litigation. The SEC is now moving to formally rescind the rule. Learn more about the Chamber's legal challenge here.
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About the U.S. Chamber of Commerce
The U.S. Chamber of Commerce is the world’s largest business organization representing companies of all sizes across every sector of the economy. Our members range from the small businesses and local chambers of commerce that line the Main Streets of America to leading industry associations and large corporations.
They all share one thing: They count on the U.S. Chamber to be their voice in Washington, across the country, and around the world. For more than 100 years, we have advocated for pro-business policies that help businesses create jobs and grow our economy.
