An announcement by acting Chairman Mark Uyeda follows a move to relax reporting requirements, continuing a broad deregulatory push in the new administration.

The Securities and Exchange Commission (SEC) announced Tuesday that it will not defend a year-old rule requiring publicly-held companies to disclose climate-related risks and in some cases the details of their emissions.

The acting chair of the, Mark Uyeda, took the first step Tuesday to rolling back a rule that would require thousands of publicly traded companies to provide investors with detailed information about the impact of their businesses on climate and the environment.

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The acting chairman of the US Securities and Exchange Commission (SEC) is asking a federal court to pause litigation against its climate disclosure rule, saying the agency does not have authority to enforce the regulation and that changes in federal administration render the rule effectively moot.