The Big Story 

The Securities and Exchange Commission (SEC) announced Tuesday that it will not defend a Biden-era rule requiring publicly held companies to disclose climate-related risks and in some cases the details of their emissions.

© Andrew Harnik, Associated Press file

“The Rule is deeply flawed and could inflict significant harm on the capital markets and our economy,” said a statement from Mark Uyeda, who was named the SEC's acting chair by President Trump in January. 

The rule requires all publicly traded companies to publicly detail the risks that climate change poses to their business.

It also forces large companies to tell the public about greenhouse gas emissions directly caused by their business if that information would be likely to influence someone’s decision on whether to invest.

The commission's refusal to defend the rule from court challenges makes it more likely to be overturned. 

When the rule was finalized last year, it was approved by the commission in a  3-2 party line vote. 

Since that time, two Democratic commissioners have parted from the agency and it now has a 2-1 Republican majority. 

Read more at TheHill.com.

Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

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What We're Reading 

News we've flagged from other outlets touching on energy issues, the environment and other topics:

• BP Vows ‘Fundamental Reset’ in Strategy as Profit Plunges (The New York Times)

   

• Project 2025 adviser takes the reins at EPA region including Texas (The Texas Tribune)

On Tap 

Upcoming news themes and events we're watching:

What Others are Reading 

Two key stories on The Hill right now:

Musk defends DOGE alongside Trump in striking Oval Office moment

Elon Musk on Tuesday defended the work of the Department of Government Efficiency (DOGE) alongside President Trump, who invited Musk to speak and sat at the resolute desk as the tech mogul gave a lengthy address. Read more

GOP lawmaker proposes renaming Greenland ‘Red, White, and Blueland’

Rep. Buddy Carter (R-Ga.) introduced a new bill this week aiming to rename Greenland to “Red, White, and Blueland,” as President Trump seeks to acquire the island territory. Read more