A U.S. appeals court on Friday temporarily paused new rules issued by the U.S. Securities and Exchange Commission requiring public companies to report climate-related risks.
The 5th U.S. Circuit Court of Appeals granted request for an administrative stay of the rules roughly a week after oil field services companies Liberty Energy Inc. and Nomad Proppant Services LLC filed a lawsuit challenging them.
The rules aim to standardize climate-related company disclosures about greenhouse gas emissions, weather-related risks and how they are preparing for the transition to a low-carbon economy.