Companies Resist SEC Climate-Disclosure Requests as Rules Stall

Market regulators Monday gave the first glimpse into the scrutiny they are giving companies about the business risks of climate change—along with pushback the SEC likely will get in return.

The Securities and Exchange Commission released the first, much-anticipated batch of climate-risk exchanges between operating companies and the agency’s division that reviews corporate filings. The SEC has been sending requests for details behind the scenes as the agency struggles to finalize rules that would force companies to disclose information about the amount of energy they buy and how they manage the risk of rising temperatures.