SEC Chair Uyeda began the process to permanently end the Climate-Related Disclosure Rule for large businesses.

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

By Isla Binnie, Virginia Furness and Jonathan Stempel NEW YORK/LONDON (Reuters) -The acting chair of the U.S. Securities and Exchange Commission on Tuesday signaled the regulator may roll back a controversial rule requiring thousands of public companies to disclose the threats their businesses pose to the climate and environment.

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.

Acting Chairman Mark Uyeda directed SEC staff to initiate a pause in court while the commission awaits a quorum. The SEC may decide to withdraw from defending itself in a lawsuit over last year's climate disclosure rule.

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.

Click for more from The Hill.{beacon} Energy & Environment Energy & Environment   The Big Story SEC backs away from climate disclosure rule The Securities and Exchange