The SEC wants to kill the climate disclosure rules it adopted just two years ago. On May 4, the agency submitted a proposed rulemaking titled “Rescission of Climate-Related Disclosure Rules” to the White House Office of Information and Regulatory Affairs for review, setting the stage for a formal unwinding of what was the federal government’s first major attempt at regulating climate-related corporate reporting.
The rules, adopted on March 6, 2024, under former Chair Gary Gensler, would have required public companies to disclose climate-related risks, transition plans, Scope 1 and Scope 2 greenhouse gas emissions, and related financial impacts. They never actually took effect. Legal challenges landed almost immediately, and the rules were stayed in April 2024. Now, under Chair Paul Atkins, the SEC is making it official: the whole thing is getting tossed.
From defense to surrender in 14 months
Here’s the timeline that tells the story. The original rules were adopted in March 2024. They were challenged in court and stayed within weeks. Then, on March 27, 2025, the SEC voted to stop defending the rules in court entirely.
By May 7, 2026, an SEC spokesperson confirmed that staff had been directed to prepare formal recommendations for the rescission under Atkins’ leadership. The focus, according to the agency, is shifting back to disclosures that are “material to investors,” which is SEC-speak for: we’re going back to the traditional standard where companies only have to report things that would influence a reasonable investor’s decision.
