SEC approves weakened climate rule requiring some companies to report emissions

By SUMAN NAISHADHAM
Associated Press

WASHINGTON (AP) — The U.S. Securities and Exchange Commission on Wednesday approved a rule that will require some public companies to report their greenhouse gas emissions and climate risks. The rule was one of the most anticipated in recent years from the nation’s top financial regulator, drawing more than 24,000 comments from companies, auditors, legislators and trade groups. It brings the U.S. closer to the European Union and California, which moved ahead earlier with corporate climate disclosure rules. The rule passed 3-2, with three Democratic commissioners supporting it and two Republicans opposed. But the version approved Wednesday was weaker than an earlier draft.