House hearing on the SEC’s climate disclosure rules

Here’s a note from Michael Littenberg of Ropes & Gray:

This morning, the House Financial Services Committee held a hearing on the SEC’s climate risk disclosure rules. The Committee’s press release, captioned “McHenry: The SEC’s Final Climate Disclosure Rule Would Be Catastrophic for Our Markets and American Competitiveness,” indicates that “Republicans will examine the numerous consequences of this fatally flawed rule which exceeds the agency’s authority, threatens our economy, and overwhelms investors with non-economic information.” As expected, House Republicans (Bill Huizenga; Republican – Michigan) have introduced a resolution seeking to overturn the rules under the Congressional Review Act. Hearing details, including the written statements, video and resolution, are available.