"Federal Court Halts Biden's SEC Climate-Disclosure Rule"

A federal appeals court has halted the Securities and Exchange Commission's (SEC) climate disclosure rule, which would require private companies to publicly disclose their carbon emissions and climate change risks. The ruling came in response to petitions from energy companies, states, and business groups, who argue that the rule represents government overreach and would harm the economy. The SEC's approval of the rule, under the leadership of Chairman Gary Gensler appointed by President Biden, has faced criticism from business groups and Republican lawmakers, leading to legal challenges and heated debates over the authority and impact of the rule on capital markets.