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AFSA Supports Rescinding SEC Climate Disclosure Rule

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AFSA Supports Rescinding SEC Climate Disclosure Rule

The American Financial Services Association (AFSA) supports Ranking Member Luetkemeyer (R, MO) and Small Business Committee Republican Members calling on the Securities and Exchange Commission (SEC) to rescind The Enhancement and Standardization of Climate-Related Disclosures for Investors proposed rule. AFSA commented on the proposed disclosure rule in June.

As Representative Luetkemeyer writes, the wide reach of the proposed rule would burden small businesses and the financial institutions which support them and as “the U.S. economy struggles to recover, unleashing a devastating and an unrealistic climate disclosure regime that goes well beyond the publicly traded companies, impacting nearly every small business, is irresponsible.”

AFSA appreciates the work of Ranking Member Luetkemeyer to protect small businesses from overly burdensome reporting requirements.

July 21st, 2022 by