Climate Inaction Could Cost $1,266 Trn, As US Pushes Back On Reporting

While the SEC has finally released its rules on climate disclosure, the question of whether they will be implemented remains a matter of much debate. Given the growth of such regulation globally, across the EU and China, and even domestically given California’s adoption of SB 261, is the US at risk for falling behind on climate disclosure?

At a federal level, not only have 10 Republican States issued a legal challenge to the new disclosure rules, but the Fifth Circuit Court has temporarily stayed their implementation after a challenge from oil companiesWhat makes the challenges so interesting is that they appear to either be politically motivated or clearly protectionist arguments from industries responsible for significant emissions.

The European Environment Agency recently warned that climate risks are “threatening its energy and food security, ecosystems, infrastructure, water resources, financial stability, and people’s health". According to its first European Climate Risk Assessment, many of these risks have already reached critical levels and could become catastrophic without urgent and decisive action.

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