A group of over two dozen Republican lawmakers have joined an amicus brief in support of a lawsuit against a Securities and Exchange Commision (SEC) environmental rule.
The SEC rule would require publicly traded companies to record and disclose some of their greenhouse gas (GHG) emissions.
The rule’s final publication triggered immediate lawsuits, including one by the Texas Alliance of Energy Producers and Domestic Energy Producers Alliance requesting the rule be deemed unlawful.
The Republican lawmakers, led by Senator Kevin Cramer (R-ND) and joined by Senator Marco Rubio (R-FL) and Representative Cory Mills (R-FL), have supported the lawsuit.
Petitioners Texas Alliance of Energy and Domestic Energy Producers Alliance are arguing the SEC rule exceeds the agency’s authority and violates impacted businesses first amendment rights.
The Congressional amicus brief concurs with petitioners’ arguments and underscores Congress never empowered the SEC to undertake such sweeping climate regulation.
“The SEC, as a securities regulator, is not empowered to impose sweeping climate-related regulations on publicly-traded companies,” reads the brief. “The SEC’s overreach into climate regulation violates the separation of powers and the major questions doctrine, warranting the rule’s invalidation.”
The major questions doctrine refers to Supreme Court precedent dictating that Congress must explicitly proclaim its intent over issues of national significance.
The lawmakers argue the SEC’s proposed rule is of national significance and, lacking clear Congressional authorization, should therefore be repealed.
The case is yet another politically controversial case underway in America’s legal system, which is expected to produce several paradigm-shifting opinions in the coming weeks.
