WASHINGTON — Republican lawmakers and scholars are ratcheting up their arguments that the Securities and Exchange Commission lacks the statutory authority to require public companies to disclose climate-related financial risks.
There’s a long road ahead for the agency as it wrangles with an outpouring of public comments on both sides of the issue, according to former SEC commissioners.
Opponents are laying the groundwork for a likely legal challenge contending that disclosure requirements would overstep the SEC’s authority on securities regulation — an argument that the agency, Democrats and major investors reject.
