Waiting for companies’ climate data? Don’t hold your breath

SEC’s landmark disclosure rule comes under fierce legal and political attack.

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(Bill Sternberg is a veteran Washington journalist and former editorial page editor of USA Today.)

WASHINGTON, D.C. (Callaway Climate Insights) — Two months ago, after years of discussion, more than 24,000 comment letters and thousands of hours of staff time, the Securities and Exchange Commission approved a landmark rule requiring companies to disclose their climate-related risks and greenhouse gas emissions.

So when will investors get to see this important information?

The short answer is: No time soon. And maybe never.

Too often in Washington, enactment of a regulation or a law is treated as the end of the ballgame when it’s really just the fourth or fifth inning. Such is the case with the 885-page climate rule, which the SEC passed on a 3-2 vote.