Burdensome Disclosure Rule is the Wrong Approach

Today, the Securities and Exchange Commission (SEC) finalized a new climate disclosure rule that will require public companies to provide the federal government with extensive reports on greenhouse gas emissions and natural disaster-related expenditures. This onerous rule will likely face extensive challenges in the courts and in Congress. 

Below is a statement that can be attributed to me, Craig Stevens, spokesman for the GAIN Coalition and former senior advisor to U.S. Energy Secretary Sam Bodman:

“The Biden administration’s war against American energy continues. Forcing burdensome reporting requirements onto public companies will do nothing to curb the energy demand. In fact, with the advent of AI and other energy-intensive technologies, demand for affordable and reliable energy will only rise. Instead of punishing companies for using the power they need to operate, this administration should be focused on embracing an all-of-the-above approach that folds in new energy technologies without skyrocketing prices and threatening reliability. 

Gary Gensler has been on the warpath to expand the SEC’s jurisdiction since the day he took the reins—this climate disclosure rule is the latest example. Lawmakers, not unelected regulators, should be in charge of major policy changes.” 

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