Bernard Sharfman writes about how the SEC’s climate-disclosure rules will likely be struck down in court:
Nevertheless, just because three SEC commissioners may believe that climate-change disclosures will lead to climate-change mitigation does not mean they can go ahead and exceed their regulatory authority. The odds that the proposed rule will be subject to legal challenge and then vacated by the courts is extremely high. Until the SEC demonstrates greater respect for the limits of its disclosure authority, the likely result of such efforts will be a large waste of time, money, and resources.
Read the whole thing here.