SEC Chairman Paul Atkins moved to rescind the agency's 885-page climate disclosure rule that his predecessor implemented. The editorial board describes this regulatory rollback as addressing what they called a scourge on the U.S. economy. Atkins targets a complex regulation that has faced significant criticism from business groups.

The Gensler rule required public companies to report their greenhouse gas emissions and climate change plans, including risks from government-imposed green transitions. This regulation emerged from broader efforts to limit fossil fuel usage. Companies would have also faced requirements to disclose spending on climate "mitigation" and carbon offset purchases.

Atkins's decision eliminates compliance costs for businesses that faced extensive reporting requirements. This regulatory reversal reflects the SEC's shift away from climate-focused mandates and signals a broader approach to reduce what the board describes as "faddish regulation" that harms U.S. business competitiveness.