Numerous conservative organizations urge Congress to repeal divisive SEC climate regulation
Conservative Groups Stand Against SEC Climate Rule
Dozens of conservative-leaning groups are urging Congress to strike down a controversial new Securities and Exchange Commission (SEC) rule that would compel large corporations to disclose their carbon emissions.
The Pushback
The SEC approved the rule in a tight 3-2 vote, requiring companies to inform investors about how their activities impact climate change. These groups are adamant in their call for Congress to overturn the rule using all available legislative means.
- Radical Climate Agenda: The signatories denounce the rule as part of a radical climate agenda that hinders American innovation with excessive paperwork and bureaucracy.
- Overreach Concerns: They argue that the SEC is overstepping its bounds by promoting a climate agenda that goes beyond its intended regulatory scope.
Collaborative Opposition
Organized by Advancing American Freedom, the letter includes around 60 right-leaning groups such as Americans for Tax Reform, Americans for Prosperity, and Consumers’ Research.
Controversial Implications
The SEC’s climate disclosure rule aligns with President Joe Biden’s ambitious climate plan to slash greenhouse gas emissions by over 50% compared to 2005 levels. This rule mandates companies to report their greenhouse gas emissions and subjects these reports to third-party audits.
While a scaled-back version of the initial proposal, which excluded emissions from suppliers and customers, the rule still faces legal challenges from Republican-led states and swift opposition from Senate Republicans.
SEC’s Stance
SEC Chairman Gary Gensler champions the rule as a crucial step toward ensuring transparent and consistent climate risk disclosure, providing investors with reliable information and imposing clear reporting standards on companies.
Read more from The Washington Examinerhere.
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