California Files Amicus Brief Defending SEC Climate Disclosure Rule

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  • California AG Rob Bonta has filed an amicus brief with the U.S. Court of Appeals for the Eighth Circuit in defense of the SEC’s climate disclosure rules (Final Rule), which requires publicly traded companies to disclose climate-related risks and financial impacts in their SEC filings, including greenhouse gas emissions, climate-related goals, and costs associated with severe weather events.
  • The amicus brief comes in response to a challenge by several Republican AGs and industry groups who seek to overturn the Final Rule, arguing that it is arbitrary, capricious, and beyond the SEC’s legal authority. As previously reported, a coalition of 19 Democratic AGs have intervened in the lawsuit to defend the Final Rule.
  • In the brief, the AG’s office expressed support for the Final Rule, highlighting the significant impact of climate-related events such as wildfires and droughts on California’s economy and large investor base. The brief emphasized that the Final Rule would provide investors with essential information on climate risks while also preventing “greenwashing,” where companies make misleading claims about their environmental responsibility.
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