SEC Unveils Sweeping Climate Requirements For Public Companies

The left’s climate hoax wrecking ball is taking down our markets – the financial foundation of this once great nation.

SEC Unveils Sweeping Climate Requirements For Public Companies

By: Thomas Catenacci, Daily Caller, March 21, 2022:

• The U.S. Securities and Exchange Commission (SEC) proposed rules Monday that would force companies to publicly disclose a wide-range of climate-related information.
• “I am pleased to support today’s proposal because, if adopted, it would provide investors with consistent, comparable, and decision-useful information for making their investment decisions, and it would provide consistent and clear reporting obligations for issuers,” SEC Chairman Gary Gensler, who President Joe Biden appointed in February 2021, said in a statement.
• The SEC, the nation’s top financial regulator, would require publicly-traded companies to disclose how “severe weather events and other natural conditions” may impact their business, under the proposed rules, according to an announcement.
• “Today’s action hijacks the democratic process and disrespects the limited scope of authority that Congress gave to the SEC,” Senate Banking Committee Ranking Member Pat Toomey said in a statement. “This is a thinly-veiled effort to have unelected financial regulators set climate and energy policy for America.”

The U.S. Securities and Exchange Commission (SEC) proposed rules that would force companies to publicly disclose a wide-range of climate-related information.

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The SEC, the nation’s top financial regulator, would require publicly-traded companies to disclose how “severe weather events and other natural conditions” may impact their business, under the proposed rules, according to the Monday announcement. Companies would also be forced to publish the greenhouse gas emissions produced from their operations.

“I am pleased to support today’s proposal because, if adopted, it would provide investors with consistent, comparable, and decision-useful information for making their investment decisions, and it would provide consistent and clear reporting obligations for issuers,” SEC Chairman Gary Gensler, who President Joe Biden appointed in February 2021, said in a statement.

“Today’s proposal would help issuers more efficiently and effectively disclose these risks and meet investor demand, as many issuers already seek to do,” he said. “Companies and investors alike would benefit from the clear rules of the road proposed in this release.”

In addition, companies would be required to share their transition plans as part of their “climate-related risk management strategy,” the proposal stated.

The commission published a complete list of a dozen requirements companies must comply with under the rule.

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“The proposal will undermine the existing regulatory framework that for many decades has undergirded consistent, comparable, and reliable company disclosures,” SEC Commissioner Hester Peirce, the agency’s lone Republican, said during a hearing on the proposal held Monday. “We cannot make such fundamental changes to our disclosure regime without harming investors, the economy, and this agency.”……..