SEC Fakes Approval for New Climate Regulations From Activists and Foreign Investors but Ignores American Companies’ Opposition

The U.S. Securities and Exchange Commission is relying on a network of foreign investors to present an illusion of broad support for the agency’s proposed climate disclosure ruleThe threat of increasing structural risks to the American economic system is a concern.

The trade agency introduced new regulations in March that require firms to report their energy consumption. While the SEC technically only has jurisdiction over publicly traded companies, the broad nature of the agency’s proposal aims to coerce private businesses into carbon calculations that track the behavior of their customers. Failure to conform to government standards can lead to lawsuits or fines.

The new rules apply. “a disingenuous power grab by the SEC,” Will Hild, the executive director of Consumers’ Research, said in an interview.

“By requiring the corporations the SEC regulates to make scope 2 emissions disclosures, those corporations will be forced to require the businesses they source from to calculate and disclose their emissions or stop doing business with them,” Hild spoke to The Federalist. “So even if a business is private (not publicly traded) but their customers are public companies, then the SEC will have effectively forced them to participate in the disclosures scheme.”

According to an analysis of the SEC’s proposal from the Western Energy Alliance, a coalition of predominantly small independent oil and gas producers, more than 80 percent of asset managers cited by the agency as supportive of the new regulations are foreign. Only 7 percent support disclosure rules for American asset managers.

The white paper The Alliance, published June 12, outlines how activist investors pretend to be representative of Wall Street majority sentiment despite only a few firms having formed multiple coalitions. The report cites seven of the most prominent climate change advocacy groups as being behind the mandated agency.

*As an Amazon Associate I earn from qualifying purchases