On April 4, 2024, the Securities and Exchange Commission (“SEC”) issued an order (the “Stay Order”) staying its climate-related disclosure rules for public companies (the “Final Rules”) “pending the completion of judicial review” of the petitions challenging the Final Rules filed in six different circuit courts, which have been consolidated for review by the U.S. Court of Appeals for the Eighth Circuit. Among other reasons, the SEC noted that a stay “will facilitate the orderly judicial resolution of those challenges and allow the court of appeals to focus on deciding the merits” and “avoids potential regulatory uncertainty if registrants were to become subject to the Final Rules’ requirements during the pendency of the challenges to their validity.” The SEC further stated that, in issuing the Stay Order, it “is not departing from its view that the Final Rules are [. . .] within the [SEC’s] long-standing authority” and “will continue vigorously defending the Final Rules’ validity in court.”