# What This Bill Actually Does

Congress is trying to block a new rule from the Securities and Exchange Commission (SEC) that would require publicly traded companies to disclose information about their climate-related risks and environmental impact. If this bill passes, that SEC rule would be canceled and companies would not have to follow it.

Here's what this means in practical terms: Right now, when you invest in a company through your retirement account, mutual fund, or brokerage account, you get financial information about that company's profits, debts, and business operations. The SEC rule that this bill wants to kill would add climate-related information to those disclosures—things like how much greenhouse gas a company produces, how climate change might affect their business, and what they're doing to reduce their environmental footprint. Supporters of the rule say this helps investors make better decisions because climate risks can affect a company's long-term profitability. Opponents argue the rule is too burdensome for companies and goes beyond what the SEC should require.

If this bill becomes law, companies would no longer be required to standardize and publicly report this climate information to the SEC. Investors who want to know about a company's climate risks would have to search for that information on their own, if the company chooses to provide it at all. This would likely make it harder for people saving for retirement or managing investments to understand the full picture of where their money is going and what risks they're taking on.

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "The Enhancement and Standardization of Climate-Related Disclosures for Investors".