{"id":11698,"date":"2024-03-18T15:10:46","date_gmt":"2024-03-18T19:10:46","guid":{"rendered":"https:\/\/acmanet.org\/?p=11698"},"modified":"2024-03-21T10:27:35","modified_gmt":"2024-03-21T14:27:35","slug":"in-washington-acma-insider-march-21-2024","status":"publish","type":"post","link":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/","title":{"rendered":"In Washington &#8211; ACMA Insider &#8211; March 21, 2024"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Federal Court Blocks SEC Rule As Legal Challenges Mount<\/h2>\n\n\n\n<p>The 5th Circuit Court has issued a stay preventing the SEC climate disclosure rule from entering into force while legal challenges proceed. The court released the\u00a0<a href=\"https:\/\/www.ca5.uscourts.gov\/opinions\/unpub\/24\/24-60109%20Order.pdf\">1 page order<\/a>\u00a0on March 15th. The courts acted after multiple groups filed suit against the scaled back rule, with business groups arguing that while the final rule was an improvement, it remains an overreach of SEC authority, while an environmental group argues the final rule does not go far enough.<\/p>\n\n\n\n<p>Legal challenges were expected when the SEC released the draft rule in 2022, however, the agency took steps to respond to criticism from business groups.&nbsp; The SEC revised the proposed rule, narrowing the scope by eliminating emissions from suppliers, known as Scope 3 emissions.&nbsp; It also stated that emissions from publicly traded companies only needed to be disclosed if the information was \u201cmaterial\u201d or relevant, to investors.&nbsp;&nbsp;<\/p>\n\n\n\n<p>These changes were not enough to prevent legal challenges, however.&nbsp; Attorneys General of West Virginia, Georgia, Alabama, Alaska Indiana, New Hampshire, Oklahoma, South Carolina, Wyoming, and Virginia called the rule \u201ca back door move to undermine the energy industry.\u201d Despite noting a number of changes from the proposed rule, the group of state officials called the final rule \u201cwildly in defect and illegal and unconstitutional.\u201d&nbsp; This group filed a legal challenge the day the SEC released the final rule.&nbsp;&nbsp;<\/p>\n\n\n\n<p>On March 14, the U.S. Chamber of Commerce, which had previously suggested it would do so, filed a federal suit against the final rule.&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cWhile we appreciate Chairman Gensler\u2019s constructive engagement with the business community and many of the modifications made by the SEC to the original proposed rule, the final rule makes substantively harmful changes to 50 years of corporate governance precedent that will have implications well beyond this single rule,\u201d said Tom Quaadman, executive vice president for the Chamber\u2019s Center for Capital Markets Competitiveness.&nbsp;<\/p>\n\n\n\n<p>Attorneys General for Texas and Louisiana have also filed separate suits against the proposed rule, as has an energy industry group in Texas.&nbsp;&nbsp;<\/p>\n\n\n\n<p>While these challenges argue the SEC has overreached their authority, the Sierra Club and its foundation argue the SEC has not gone far enough.&nbsp; In a separate suit, the Sierra Club argued investors need more information than required by the SEC.&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cWe are saying not only does the SEC have the authority to require these types of disclosures, in fact they made a mistake by dropping some very crucial disclosure requirements that were in the proposal \u2014 and a mistake that just is fundamentally wrong,\u201d said Hana Vizcarra, senior attorney at Earthjustice to&nbsp;<em>Politico<\/em>.&nbsp;<\/p>\n\n\n\n<p>The SEC will defend the regulation in all these cases, according to statements released by the SEC. Further lawsuits are possible.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Contact\u00a0<a href=\"mailto:dneumann@acmanet.org\">Dan Neumann<\/a>\u00a0with any questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Court Blocks SEC Rule As Legal Challenges Mount The 5th Circuit Court has issued a stay preventing the SEC climate disclosure rule from entering into force while legal challenges [&hellip;]<\/p>\n","protected":false},"author":58,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42,1],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association\" \/>\n<meta property=\"og:description\" content=\"Federal Court Blocks SEC Rule As Legal Challenges Mount The 5th Circuit Court has issued a stay preventing the SEC climate disclosure rule from entering into force while legal challenges [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"American Composites Manufacturers Association\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-18T19:10:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-21T14:27:35+00:00\" \/>\n<meta name=\"author\" content=\"acmastaff2000\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"acmastaff2000\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\"},\"author\":{\"name\":\"acmastaff2000\",\"@id\":\"https:\/\/acmanet.org\/#\/schema\/person\/307fef3ea9bbc75b2e6c413de02d7ccb\"},\"headline\":\"In Washington &#8211; ACMA Insider &#8211; March 21, 2024\",\"datePublished\":\"2024-03-18T19:10:46+00:00\",\"dateModified\":\"2024-03-21T14:27:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\"},\"wordCount\":486,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/acmanet.org\/#organization\"},\"articleSection\":[\"Insider\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\",\"url\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\",\"name\":\"In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association\",\"isPartOf\":{\"@id\":\"https:\/\/acmanet.org\/#website\"},\"datePublished\":\"2024-03-18T19:10:46+00:00\",\"dateModified\":\"2024-03-21T14:27:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/acmanet.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"In Washington &#8211; ACMA Insider &#8211; March 21, 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/acmanet.org\/#website\",\"url\":\"https:\/\/acmanet.org\/\",\"name\":\"American Composites Manufacturers Association\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/acmanet.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/acmanet.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/acmanet.org\/#organization\",\"name\":\"American Composites Manufacturers Association\",\"url\":\"https:\/\/acmanet.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/acmanet.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/acmanet.org\/wp-content\/uploads\/2024\/01\/ACMA_Logo-1.svg\",\"contentUrl\":\"https:\/\/acmanet.org\/wp-content\/uploads\/2024\/01\/ACMA_Logo-1.svg\",\"width\":542,\"height\":194,\"caption\":\"American Composites Manufacturers Association\"},\"image\":{\"@id\":\"https:\/\/acmanet.org\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/acmanet.org\/#\/schema\/person\/307fef3ea9bbc75b2e6c413de02d7ccb\",\"name\":\"acmastaff2000\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/acmanet.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2d1212d928dfd55759be2830199603a6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2d1212d928dfd55759be2830199603a6?s=96&d=mm&r=g\",\"caption\":\"acmastaff2000\"},\"sameAs\":[\"http:\/\/acmanet.org\"],\"url\":\"https:\/\/acmanet.org\/author\/acmastaff2000\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/","og_locale":"en_US","og_type":"article","og_title":"In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association","og_description":"Federal Court Blocks SEC Rule As Legal Challenges Mount The 5th Circuit Court has issued a stay preventing the SEC climate disclosure rule from entering into force while legal challenges [&hellip;]","og_url":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/","og_site_name":"American Composites Manufacturers Association","article_published_time":"2024-03-18T19:10:46+00:00","article_modified_time":"2024-03-21T14:27:35+00:00","author":"acmastaff2000","twitter_card":"summary_large_image","twitter_misc":{"Written by":"acmastaff2000","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#article","isPartOf":{"@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/"},"author":{"name":"acmastaff2000","@id":"https:\/\/acmanet.org\/#\/schema\/person\/307fef3ea9bbc75b2e6c413de02d7ccb"},"headline":"In Washington &#8211; ACMA Insider &#8211; March 21, 2024","datePublished":"2024-03-18T19:10:46+00:00","dateModified":"2024-03-21T14:27:35+00:00","mainEntityOfPage":{"@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/"},"wordCount":486,"commentCount":0,"publisher":{"@id":"https:\/\/acmanet.org\/#organization"},"articleSection":["Insider"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/","url":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/","name":"In Washington - ACMA Insider - March 21, 2024 - American Composites Manufacturers Association","isPartOf":{"@id":"https:\/\/acmanet.org\/#website"},"datePublished":"2024-03-18T19:10:46+00:00","dateModified":"2024-03-21T14:27:35+00:00","breadcrumb":{"@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/acmanet.org\/in-washington-acma-insider-march-21-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/acmanet.org\/"},{"@type":"ListItem","position":2,"name":"In Washington &#8211; ACMA Insider &#8211; March 21, 2024"}]},{"@type":"WebSite","@id":"https:\/\/acmanet.org\/#website","url":"https:\/\/acmanet.org\/","name":"American Composites Manufacturers Association","description":"","publisher":{"@id":"https:\/\/acmanet.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/acmanet.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/acmanet.org\/#organization","name":"American Composites Manufacturers Association","url":"https:\/\/acmanet.org\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/acmanet.org\/#\/schema\/logo\/image\/","url":"https:\/\/acmanet.org\/wp-content\/uploads\/2024\/01\/ACMA_Logo-1.svg","contentUrl":"https:\/\/acmanet.org\/wp-content\/uploads\/2024\/01\/ACMA_Logo-1.svg","width":542,"height":194,"caption":"American Composites Manufacturers Association"},"image":{"@id":"https:\/\/acmanet.org\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/acmanet.org\/#\/schema\/person\/307fef3ea9bbc75b2e6c413de02d7ccb","name":"acmastaff2000","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/acmanet.org\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2d1212d928dfd55759be2830199603a6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2d1212d928dfd55759be2830199603a6?s=96&d=mm&r=g","caption":"acmastaff2000"},"sameAs":["http:\/\/acmanet.org"],"url":"https:\/\/acmanet.org\/author\/acmastaff2000\/"}]}},"image_url":false,"_links":{"self":[{"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/posts\/11698"}],"collection":[{"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/comments?post=11698"}],"version-history":[{"count":4,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/posts\/11698\/revisions"}],"predecessor-version":[{"id":11746,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/posts\/11698\/revisions\/11746"}],"wp:attachment":[{"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/media?parent=11698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/categories?post=11698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acmanet.org\/wp-json\/wp\/v2\/tags?post=11698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}