No Result
View All Result
China Secrets Revealed
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock
No Result
View All Result
China Secrets Revealed
No Result
View All Result
Home News

Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits

by
April 6, 2024
in News
0
Biden admin temporarily drops ‘outrageous climate mandate’ amid flurry of lawsuits

The Securities and Exchange Commission (SEC) temporarily suspended its controversial rule requiring private companies to disclose carbon emissions data after it was met with a slew of lawsuits. 

The rule, which was finalized in March, was immediately met with litigation by a cohort of 25 GOP attorneys general, along with energy companies Liberty Energy and Nomad Proppant Services, and business groups including the Chamber of Commerce, Texas Alliance of Energy Producers and Domestic Energy Producers Alliance.

Last month, the 5th Circuit Court of Appeals granted a brief administrative stay of the rule while the various lawsuits were consolidated. The groups asked the 8th Circuit to force the SEC to block its rule. On Friday, the SEC voluntarily agreed to temporarily suspend its rule while the litigation continues on the merits. 

‘The mandate is part of Biden’s radical green scheme to influence investments based on climate change theories instead of returns,’ Missouri Attorney General Andrew Bailey said Friday, adding that ‘it would’ve cost Missouri businesses millions of dollars per year.’ 

‘It would’ve required businesses to disclose climate-related risks, including higher insurance rates from weather disasters, and release a plan to adapt to climate agenda recommendations,’ Bailey said.

‘Our message to Joe Biden: you cannot implement this insane climate mandate without an act of Congress. Constitution 101: Separation of powers,’ Bailey stated on X.

In a letter to the 8th Circuit, the SEC said that the stay order ‘reaffirms the Commission’s ‘view that the Final Rules are consistent with applicable law and within the Commission’s long-standing authority,’’

‘As the Commission explains, particularly given the procedural complexities of this litigation, a stay will facilitate this Court’s orderly resolution of petitioners’ challenges and will avoid potential regulatory uncertainty ‘if registrants were to become subject to the Final Rules’ requirements during the pendency of the challenges to their validity,’’ the letter sent Friday states. 

Iowa Attorney General Brenna Bird reacted to the SEC’s announcement Friday, calling the rule ‘Biden’s most outrageous climate mandate for businesses yet,’ and called the SEC’s stay of the rule a ‘huge win.’ 

Under the leadership of Chairman Gary Gensler, whom President Biden appointed to the role, the SEC approved the climate disclosure rules on March 6 in a 3-2 vote after nearly two years of heated deliberations.

The SEC has said that the rules reflect ‘investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks.’ 

And Gensler said they will further guarantee companies ‘produce more useful information than what investors see today.’

Fox News Digital’s Thomas Cattennacci contributed to this report. 

This post appeared first on FOX NEWS
Previous Post

CIA denies whistleblower allegation that agency ‘stonewalled’ IRS interview with Hunter Biden ‘sugar brother’

Next Post

House GOP leaders say Biden conditioning US support for Israel will ‘benefit Hamas’

Next Post
House GOP leaders say Biden conditioning US support for Israel will ‘benefit Hamas’

House GOP leaders say Biden conditioning US support for Israel will ‘benefit Hamas’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Former Supreme Court Justice David Souter dead at 85

Former Supreme Court Justice David Souter dead at 85

0
TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

TD Cowen downgrades Molson Coors, lowers price target to $58: Is it time to exit?

0
Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

Google’s antitrust ruling draws parallels to Microsoft’s 25-year-old case: Here’s how

0
In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

In 2023, Colorado Lawmakers Pushed Back on Cops Practicing Pain Medicine Based on Flawed CDC Guideline

0
Former Supreme Court Justice David Souter dead at 85

Former Supreme Court Justice David Souter dead at 85

May 9, 2025
OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

May 9, 2025
US stocks open in the green: Dow jumps over 100 points, Nasdaq up 0.6%

US stocks open in the green: Dow jumps over 100 points, Nasdaq up 0.6%

May 9, 2025
Rubio just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

Rubio just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

May 9, 2025

Recent News

Former Supreme Court Justice David Souter dead at 85

Former Supreme Court Justice David Souter dead at 85

May 9, 2025
OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’

May 9, 2025
US stocks open in the green: Dow jumps over 100 points, Nasdaq up 0.6%

US stocks open in the green: Dow jumps over 100 points, Nasdaq up 0.6%

May 9, 2025
Rubio just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

Rubio just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

May 9, 2025

Disclaimer: ChinaSecretsRevealed.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.

No Result
View All Result
  • Economy
  • Editor’s Pick
  • Investing
  • News
  • Stock

Copyright © 2024 ChinaSecretsRevealed. All Rights Reserved.