NE Wyoming News

U.S. Senators John Barrasso, Cynthia Lummis, and U.S. Representative Harriet Hageman (all R-WY) have joined Senator Kevin Cramer (R-ND) and U.S. Representative Kevin Hern (R-OK) in filing a bicameral amicus brief in the case Texas Alliance of Energy Producers, et al v SEC. The brief requests that the court vacate the Securities and Exchange Commission's (SEC) recently adopted climate disclosure rule.

The rule, finalized by the SEC in March, mandates that publicly traded companies disclose their greenhouse gas emissions data for the first time. Proponents argue this measure is essential for transparency regarding environmental impact; however, opponents believe it imposes undue burdens on businesses.

The amicus brief contends that the climate rule would significantly increase operational burdens on publicly traded companies and impede economic growth. It emphasizes that legislative authority rests with Congress rather than administrative bodies like the SEC.

“The SEC, as a securities regulator, is not empowered to impose sweeping climate-related regulations on publicly traded companies,” states the amicus brief. “Congress has demonstrated historical reluctance to pass broad climate legislation, particularly legislation that would dramatically impact federal securities law disclosure requirements. The SEC’s overreach into climate regulation violates the separation of powers and the major questions doctrine, warranting the rule’s invalidation.”

For further details on the amicus brief, contact Chris Berardi, Sr. Advisor/Communications Director.