Posted
Wednesday, March 13, 2024
LINCOLN — Nebraska Attorney General Mike Hilgers joined a multi-state coalition, led by Iowa, in a lawsuit to block the Securities and Exchange Commission’s new rule that unlawfully forces public companies to make climate-related disclosures.
"Our security depends on access to reliable energy,” stated Attorney General Mike Hilgers. “This rule goes beyond the Biden Administration’s power to further a radical climate agenda, and we filed suit to put a stop to it."
The regulation forces public companies to disclose information on “climate-related risk,” which is not material to the Commission’s authority to curb serious abuses in the securities market. In addition to disregarding the authority given to it by Congress, the Commission based its decision on mistaken economic and scientific assumptions. The decision also violates companies’ First Amendment rights by compelling them to put forth initiatives and disclose required information.
Attorney General Hilgers joins the lawsuit led by Iowa’s Attorney General Brenna Bird. They were joined by the States of Arkansas, Missouri, and Utah.
The lawsuit was filed in the United States Court of Appeals for the Eighth Circuit.
