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Our recent Client Alert discusses that on April 4, 2024, the U.S. Securities and Exchange Commission (SEC) published an order staying the final climate-related disclosure rules[1] pending completion of judicial review of the consolidated legal challenges in the U.S. Court of Appeals for the Eighth Circuit. Notwithstanding the stay, the order reaffirms the SEC’s view that the final rules are consistent with applicable law and within the SEC’s “long-standing authority to require the disclosure of information important to investors in making investment and voting decisions.” According to the order, the SEC issued the stay to, among other things, “facilitate the orderly judicial resolution of those challenges and allow the court of appeals to focus on deciding the merits.” 

[1] The Enhancement and Standardization of Climate-Related Disclosures for Investors, 89 Fed. Reg. 21,668 (Mar. 28, 2024).