In a May 29 press release, the U.S. Securities and Exchange Commission (SEC) announced its proposal to seek a complete rescission of its Climate-Related Disclosure Rules. The Proposal was published in the Federal Register on June 3, 2026, with the 60-day public comment period concluding on August 3, 2026. After the public comment period, the rescission needs to pass a vote by the Commission before it is finalized. Adopted in March 2024, the rules would have required certain publicly traded companies to disclose climate-related risks and data on their scope 1 and 2 greenhouse gas emissions.  

Despite the end of the SEC Climate Disclosure Rule, U.S. companies will continue to be subject to reporting under California’s climate disclosure laws. Enforcement of California’s Climate-Related Risk Disclosure Act (CA SB 261) remains stayed due to an ongoing legal challenge, however, the first scope 1 and 2 emissions reporting deadline for the Climate Corporate Data Accountability Act (CA SB 253) is August 10, 2026 for U.S. companies if the Court does not rescind the rule.  

Elsewhere in New Jersey is currently considering legislation, modeled after California’s SB 253, and New York has considered legislation modeled after both SB 253 and SB 261.