SEC Acting Chairman Announces Litigation Pause Related to Climate Rule

In a February 11, 2025, statement, SEC Acting Chairman Mark Uyeda announced that he is requesting the U.S. Court of Appeals for the Eighth Circuit to postpone hearing oral arguments on the consolidated litigation associated with the SEC’s March 2024 final rule on climate-related disclosures. The rule had previously been stayed by the Commission on April 4, 2024, pending the completion of such litigation.

In explaining why he is taking this action, Mr. Uyeda reiterated his belief that the rule’s requirements exceed the SEC’s “statutory authority.” Other reasons he cited include “the recent change in the composition of the Commission . . . and the recent Presidential Memorandum regarding a Regulatory Freeze.” He further noted that the delay is intended to give the SEC more time “to deliberate and determine the appropriate next steps.”

Commissioner Caroline Crenshaw has also released a statement in which she responded to Mr. Uyeda’s statement.