Now, with Uyeda leading the agency, the tide is shifting even further.
“Not Our Job,” Says SEC’s New Leadership
Uyeda made it clear that he does not stand behind the legal arguments the SEC has previously made in court. “The commission’s briefs previously submitted in the cases consolidated in the Eighth Circuit do not reflect my views,” he said, questioning both the SEC’s authority and the economic feasibility of the regulation.
His skepticism echoes the stance taken by many of the rule’s opponents, who insist that the SEC has no business policing climate disclosures. The regulation, they argue, extends beyond financial oversight and wades into environmental policy—territory they believe should be left to agencies like the Environmental Protection Agency.
Crenshaw Fights Back
Defending the rule, Crenshaw dismissed claims that the SEC had overreached. “We are not an environmental agency,” she admitted, “but we are in the business of requiring public company disclosure about risk. We have done it myriad times without having our authority questioned.”
