The U.S. Securities and Exchange Commission has implemented a less stringent climate disclosure rule for public real estate companies, exempting them from tracking tenant emissions. However, the new regulations still impose significant disclosure requirements. Scholars and researchers are questioning the validity of studies linking ESG practices to financial performance, with some suggesting a reverse causality. Despite the SEC's revised rule, finance chiefs are facing challenges and costs to comply. Three states are suing over the SEC's climate change rule, citing concerns over cost, purview, and the First Amendment. Meanwhile, there is a slowdown in new flows towards ESG funds, and sustainability-linked bonds have decreased as corporate bond issuance rises.