In a statement made February 11, 2025 acting U.S. Security and Exchange Commission (SEC) Chairman Mark T. Uyeda announced the SEC’s plans to halt the Climate Disclosure rulemaking process. Finalized in March 2024, the rule had already been voluntarily stayed by the SEC pending the resolution of legal challenges. Uyeda asked the Eighth Circuit — where the legal challenges to rule have been consolidated — to take no action until the SEC determines the appropriate next steps. It is likely that the SEC will stop defending the validity and legality of the climate disclosure rule. Despite the likely end of the SEC rule, U.S. companies will continue to be subject to reporting under California’s climate disclosure laws.