S.E.C. Poised to Unleash a Sweeping “Climate Disclosure” Rule

[Elderberry]

Legal Insurrection by Leslie Eastman Thursday, March 24, 2022

SEC has just polluted America’s business environment.

How can you tell the coronavirus pandemic is winding down?

Because bureaucrats are now moving back to “climate change” as the priority panic issue.

And the officials who want a piece of the power pie has expanded beyond the Environmental Protection Agency, which has been keen to view life-essential carbon dioxide as a “pollutant” for regulations, fees, and general domain enhancement.

The Securities and Exchange Commission is poised to unleash rules mandating that public companies tell their shareholders and the federal government how they affect the climate.

    The nation’s top financial regulator gave initial approval to the much-anticipated climate disclosure rule at a meeting on Monday, moving forward with a measure that would bolster the Biden administration’s stalled environmental agenda.

    The proposed rule — approved by a 3-to-1 vote — aims to give investors a clearer picture of the risks that climate change might pose to companies, because of disasters like droughts and wildfires, changes in government environmental policies or consumers’ declining interest in products that contribute to global warming.

    But the consequences could be more far-reaching: Environmental and corporate-governance advocates said the transparency the rule requires would hold companies accountable for their role in climate change, and give investors more leverage in forcing changes to business practices that contribute to rising global temperatures.

More: https://legalinsurrection.com/2022/03/s-e-c-poised-to-unleash-a-sweeping-climate-disclosure-rule/

[Killer Clouds]

WTF?

[IsailedawayfromFR]

There is no authority given the federal government to force companies to do this.

Completely unacceptable.

They are aiming to make it a crime if any company strays from these public disclosures.

[Smokin Joe]

The correct answer is "Not at all" or "Imperceptibly".

No real science supports another conclusion.

[christian]

The point is  and has has always been, death to Americas capitalism by environmental bureaucracy.  Its been very effective in transferring Americans wealth to our enemies around the world, competitors too!
Notice the enemies and competition around the world are much exempt from the choking restrictions that are rigidly imposed on America/Americans.

[rebewranger]

New Rule Would Force Climate Change Reporting Requirements on Most Companies in America
April 14, 2022
 
COMMENTARY BY
Portrait of Patrick Tyrrell
 
Patrick Tyrrell is a research coordinator in The Heritage Foundation’s Center for International Trade and Economics.

The Biden Securities and Exchange Commission has proposed requiring publicly traded companies to not only calculate and report their own greenhouse gas emissions but those of their suppliers, customers, and logistics operators.

The proposal could conceivably cover almost every company in America—even those that aren’t publicly traded and don’t fall under the SEC’s purview—adding enormous compliance costs and legal fees to their bottom lines.

In anticipation of the new 506-page rule, proposed by SEC Chairman Gary Gensler, accounting firms have been hiring thousands of new employees to prepare for the coming onslaught of climate change financial paperwork by public companies.

https://www.dailysignal.com/2022/04/14/new-rule-would-force-climate-change-reporting-requirements-on-most-companies-in-america/

[Smokin Joe]

wELL, IT ISN'T GOING TO AFFECT THE DANG CLIMATE ONE DARNED BIT.

It should only take one page to say that much, and the burden of proof lies on those claiming it has or would.

Lay the evidence out in court, and remember the law against concealing Brady Material.

[Free Vulcan]

I wonder how the SEC plans to enforce and prove it if companies file disclosures that underestimate their 'effect' on climate.

[Smokin Joe]

I wonder how the SEC plans to enforce and prove it if companies file disclosures that underestimate their 'effect' on climate.

Enforce it? If you aren't "woke" enough, they'll investigate and litigate you to death.

If you are singing the Party Line, you won't get a second glance.

It is another weapon in tyranny's quiver.

[Free Vulcan]

Enforce it? If you aren't "woke" enough, they'll investigate and litigate you to death.

If you are singing the Party Line, you won't get a second glance.

It is another weapon in tyranny's quiver.

The SEC is very understaffed v. thousands upon thousands of corporations.

Seems like a good candidate for Cloward Piven and lots and lots of countersuits.

[Smokin Joe]

The SEC is very understaffed v. thousands upon thousands of corporations.

Seems like a good candidate for Cloward Piven and lots and lots of countersuits.

That's the reason I said to challenge any nonsense by saying it has no effect. Then they have to prove otherwise, and in discovery, omitting Brady Material (material that proves innocence) is actionable, civilly, and in some states, criminally as well. If they cherry pick data to prove "climate Change" (something routinely done), and do not provide material to the contrary, sue the B@st@rds, and push for prosecution

[Fishrrman]

Smokin' Joe fulminates with:
"It is another weapon in tyranny's quiver."

Your point is well-taken.
Is it time for that New Continental Congress yet...?

[sneakypete]

I wonder how the SEC plans to enforce and prove it if companies file disclosures that underestimate their 'effect' on climate.

@Free Vulcan

Easy,peasy. Companies that contribute to the DNC and Dim campaigns,get a pass. Companies that don't,get hammered and ran out of business.