SEC climate rule prompts a rush to sue. Experts say companies are likely to prepare to comply anyway

AES Indiana Petersburg Generating Station, a coal-fired power plant, operates in Petersburg, Ind., on Wednesday, Oct. 25, 2023. new rule requiring companies to disclose some emissionsThe rule adopted in early March was watered down from what the nation's top financial regulator had proposed two years ago, thanks to intense lobbying and talk of litigation from business and trade groups and some conservative lawmakers.

Sierra Club, the environmental group, and the Sierra Club Foundation also filed suit last week, arguing that the final rule will tell investors much less about the risks companies face from climate change compared to what was originally proposed. Climate risks are already having a profound impact on the U.S. financial system, they argued.

“What does the stay mean for companies subject to the rules? At this point, likely not much," Littenberg said.

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