Window to repeal SEC climate disclosure rule closes

The window for lawmakers to repeal the Securities and Exchange Commission’s climate-risk disclosure rule via the Congressional Review Act closed on Thursday, which marked 60 Senate session days since the rule was published in the Federal Register, according to an emailed release from Petkanas Strategies.

Republican lawmakers introduced CRA challenges to the rule in both the House and Senate earlier this year, but stalled on both fronts. House GOP members advanced a challenge out of the Financial Services Committee, while a Senate CRA introduced by South Carolina Sen. Tim Scott stalled after being sent to the Banking, Housing and Urban Affairs Committee.

The SEC’s climate rule, finalized in March, is still facing ongoing legal challenges in the U.S. Eighth Circuit of Appeals, where the agency is battling consolidated challenges from Republican-led states, a public oil services company and some pro-business groups. It is unknown what effect the failed CRA push will have on the cases.

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