That sure was fast. The Hill reports that
“West Virginia Attorney General Patrick Morrisey announced a coalition of 10 states will file a legal challenge to new regulations requiring public companies to disclose their climate-related risks and direct greenhouse gas emissions.”
Action is being considered from other quarters, too:
“U.S. Chamber of Commerce Center for Capital Markets Competitiveness Executive Vice President Tom Quaadman said the business lobbying giant is ‘carefully reviewing the details of the rule and its legal underpinnings to understand its full impact.’
… Senate Banking Committee ranking member Tim Scott (R-S.C.) also vowed to fight the rule under the Congressional Review Act… [and] House Financial Services Committee Chair Patrick McHenry (R-N.C.) blasted the ‘immense consequences’ of ‘such disastrous regulations’ and announced a field hearing scheduled for March 18.”
I mean this was expected, but so quickly? That has to be some kind of record. I’m not confident that resolution will come as quickly as the legal complaints, however.
If you aren’t already subscribed to our complimentary ESG blog, sign up here: https://practicalesg.com/subscribe/ for daily updates delivered right to you.
