SEC Moves to Repeal Climate Change Disclosure Rules, Signaling a Major Shift in Regulatory Stance

The U.S. Securities and Exchange Commission (SEC) is actively moving to repeal its climate disclosure rules, a significant reversal from its previous stance. This action follows a period of legal challenges and a retreat from defending the regulations in court, indicating a clear shift in federal policy regarding corporate climate transparency. Internal audit professionals should be aware of this evolving regulatory landscape, as it impacts compliance requirements and the scope of ESG-related assurance activities, even as other jurisdictions and frameworks continue to advance their own reporting mandates.