Attorney General Jason Miyares has announced a victory against the Biden Administration's Securities and Exchange Commission ("SEC") mandate that requires businesses to track and report greenhouse gas emissions. Virginia, along with 25 other states, secured a temporary nationwide block on President Biden's climate mandate while the lawsuit continues.
"President Biden continues to try to push his most extreme, harmful, and expensive policies without congressional approval - because he knows they'll fail in Congress. He is actively avoiding the voice of the American people on mandates that will directly impact them," said Attorney General Miyares. "As Attorney General, I'll protect Virginians from federal overreach and harmful, illegal mandates."
The mandate is part of President Biden's green energy overhaul and aims to influence investments based on climate change theories. It would require businesses to disclose climate-related risks, such as higher insurance rates from weather disasters, and develop a plan to adapt to climate recommendations, costing businesses billions of dollars annually.
In the ongoing legal challenge, the States argue that the SEC cannot implement the climate mandate without an act of Congress. Virginia has joined a lawsuit led by Iowa, along with 24 other states including Alabama, Alaska, Arkansas, Georgia, and more.
This move by Attorney General Miyares is seen as a strong stance against what is perceived as federal overreach by the Biden Administration in implementing climate mandates on businesses without congressional approval.