Charleston Leader

Yesterday, U.S. Senator Shelley Moore Capito (R-W.Va.) and a bipartisan group of 33 Senate colleagues introduced a Congressional Review Act (CRA) resolution to overturn the Securities and Exchange Commission’s (SEC) climate disclosure rule. The effort was led by U.S. Senator Tim Scott (R-S.C.).

Senator Capito expressed her concerns about the rule, stating, “The radical climate disclosure rule set by Chair Gensler and the SEC completely oversteps its authority, will hinder access to capital for energy companies, and will increase energy prices for consumers. This effort puts environmental activism ahead of sound policymaking in order to achieve left-wing political objectives. I am proud to join Senator Scott and my colleagues in introducing this CRA to overturn this rule.”

The SEC under Chair Gensler has been pursuing an aggressive regulatory agenda, proposing and finalizing over 60 rules with limited public comment periods and inadequate cost-benefit analyses.

In January, Senators Capito and Kevin Cramer (R-N.D.) sent a letter to SEC Chair Gensler objecting to the commission’s climate disclosure rule. The senators argued that the rule hinders domestic energy producers’ access to capital and fuels higher energy prices. In April 2022, Senator Capito and other Republican colleagues called on Chair Gensler to withdraw the rule, expressing strong opposition and raising concerns about the limited public comment period.