The implementation of a climate rule mandating the disclosure of greenhouse gas emissions has been temporarily halted by the Securities and Exchange Commission.
This decision comes in response to a challenge from a coalition of states led by Republicans.
On Thursday, the SEC informed the Eighth Circuit Court of Appeals that it would delay the finalization of the climate rule due to a lawsuit filed by 25 states, with Iowa at the helm.
The states contend that the SEC has exceeded its jurisdiction by seeking to implement the climate rule without the approval of Congress.
“Today’s victory shuts down the most outrageous climate mandate for businesses since Biden took office. The SEC’s job is to protect people from fraud. It has no business slapping companies with extremist climate mandates. We are making it clear that Biden has to follow the law like everyone else.” Iowa Attorney General Brenna Bird remarked.
“By halting this mandate, we are protecting business from costly red tape, securing our supply chain, and defending family farms,” she added. “Next, we are going to make this win permanent!” she continued.
In a recent development, the decision has been made to follow the temporary block of the rule by the Fifth Circuit Court of Appeals last month.
Among the many states that filed challenges to the rule, Iowa emerged as the chosen lead challenger.
A number of states were involved in the challenge, spanning from Alabama to Wyoming.
This diverse group included states such as Alaska, Arkansas, Georgia, and Idaho, among others. The list also encompassed states like Indiana, Kentucky, Louisiana, and Mississippi, to name a few.
Furthermore, states like Missouri, Montana, Nebraska, and New Hampshire were also part of the challenge.
North Dakota, Ohio, Oklahoma, and South Carolina were among the states that joined in, along with South Dakota, Tennessee, Texas, and Utah. Lastly, Virginia, West Virginia, and Wyoming were also included in this wide-ranging collection of states.
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