U.S. Appeals Court to Review Petitions Challenging SEC Climate Rule

The U.S. Judicial Panel on Multidistrict Litigation has released a consolidation order that designates the U.S. District Court of Appeals for the Eighth Circuit as the court that will review all of the petitions challenging the SEC’s recently issued final rule on climate-related disclosures (i.e., the petitions pending in six circuit courts of appeal) on a consolidated basis. The final rule requires registrants to provide comprehensive climate-related disclosures in their annual reports and registration statements, including those for IPOs, beginning with annual reports for the year ending December 31, 2025, for calendar-year-end large accelerated filers.

For more information about the final rule, see the press release and fact sheet on the SEC’s Web site.