SE 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 of 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 rule.

The rule, finalized by the SEC in March, mandates publicly traded companies to disclose their greenhouse gas emissions data for the first time. According to the amicus brief, this requirement would impose significant burdens on companies and potentially hinder economic growth.

"The SEC, as a securities regulator, is not empowered to impose sweeping climate-related regulations on publicly traded companies," stated the amicus brief. It further argues that Congress holds the authority to enact legislation related to securities markets and climate policy. The brief also emphasizes that Congress has historically been reluctant to pass broad climate legislation that significantly impacts federal securities law disclosure requirements.

The lawmakers contend that the SEC's actions represent an overreach into climate regulation, violating both the separation of powers and the major questions doctrine.

Click here for the amicus brief.