Lawmakers’ attempt to repeal SEC climate-risk rule fails; House Republicans target funding to block enforcement.

The window for lawmakers to repeal the Securities and Exchange Commission’s climate-risk disclosure rule via the Congressional Review Act expired on Thursday, marking 60 Senate session days since the rule was published in the Federal Register. Republican lawmakers introduced CRA challenges to the rule in both the House and Senate, but these efforts stalled. The SEC is currently facing consolidated challenges in the Eighth Circuit Court of Appeals, where the agency is battling consolidated challenges from Republican-led states, a public oil services company and some pro-business groups. While the threat of the Act is now moot, House Republicans are planning to target the SEC’s rule through the appropriations process. They are pushing a bill that would prevent the SEC from using any agency funding to enact, implement or enforce the regulation.