Securities Exchange Commission passes final climate disclosure rules in a 3-to-2 vote

The Securities and Exchange Commission (SEC) Wednesday adopted final rules regarding climate disclosures in a 3 to 2 vote.

The final rules left out some of the more burdensome reporting requirements for greenhouse gas emissions that were in the proposed rule, but they still maintain many of the other climate-related reporting requirements that critics say will be costly to comply with.

"Today, the SEC announced that it has allowed radical climate activists to hijack our capital markets. Unable to push their unpopular agenda through Congress, these leftists have found a willing partner in SEC Chairman Gary Gensler,” House Majority Leader Steve Scalise, R-La., said in a statement.

Commissioners Gensler, Caroline Crensshaw and Jaime Lizarraga voted in favor of the final rule, and Commissioners Hester PIerce and Mark Uyeda voted against it.