The Securities and Exchange Commission (SEC) is pushing to demand Climate Disclosure mandates for public firms. Climate Disclosure is part of a broader ESG agenda – infusing regulation with a social agenda. Having approved new rules, the new mandate is now being challenged in the courts, pausing compliance.
The SEC’s mission is to maintain efficient markets, protect investors, and enable capital formation. Environmental goals are not mentioned anywhere in this mandate. This obvious deviation from its mission has caused some insiders to lambaste the agency as the Securities and Environment Commission.
While everyone wants clean water and clean air, the federal government has created agencies like the Environmental Protection Agency to pursue these objectives.
Recently, the Competitive Enterprise Institute posted a brief video highlighting why Climate Disclosure rules are utter folly raising costs while negatively effecting investors. You may watch the video here.
