Nebraska Attorney General Mike Hilgers announced a decision of the Biden Administration’s Security and Exchange Commission (SEC) to stay its mandate forcing businesses to track and report greenhouse gas emissions. The SEC stayed its mandate following a motion by Nebraska and 24 states to seek a stay of the mandate from the U.S. Court of Appeals for the Eighth Circuit.
The mandate is part of President Biden’s sweeping green agenda and an attempt to influence investments based on climate change theories instead of returns. It will also require businesses to disclose climate-related risks, including higher insurance rates from weather disasters, and release a plan to adapt to climate agenda recommendations. The plan is estimated to cost businesses billions of dollars every year.
The States make the case that the SEC cannot implement the climate mandate without an act of Congress. This is the most recent example of the Biden Administration pushing its sweeping green agenda.
Nebraska joined the Iowa-led lawsuit, along with Alabama, Alaska, Arkansas, Georgia, Idaho, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, and Wyoming.