Sunday, March 10, 2024

Even with more stringent provisions left out, the SEC's final climate disclosure rules are still superfluous and ridiculous

More nonsense from the administration of the lifelong, pathological and serial liar and senile, demented, and corrupt 46th President. This is time it is putting an extra and entirely unnecessary burden on U.S. companies!

Another consequence of the Global Warming hoax and Climate Change religion!

At least it was only a narrow decision: "While the rules left out some of the more burdensome reporting requirements for greenhouse gas emissions, disagreements remained between commissioners, resulting in a narrow 3-to-2 vote." But was it only narrow, because the more stringent rules were left out?

E.g. how many lawsuits will be filed by so called climate activists against companies supposedly not in compliance with these new rules?

"... “Small non-public companies will be harmed by facing higher compliance costs as public companies request non-material information on Scope 3 GHG emissions, or risk the loss of business if they fail to provide such information,” a coalition of Senate Republicans warned in a comment letter on the proposed rules. ...
Under the final rules that the SEC passed Monday, large and mid-sized companies will need to report their Scope 1 emissions, which are those that come directly from the company’s operations, as well as their Scope 2 emissions, which are those that come from their purchase of electricity, heating or cooling. ..."

"The Securities and Exchange Commission (“Commission”) is adopting amendments to its rules under the Securities Act of 1933 (“Securities Act”) and Securities Exchange Act of 1934 (“Exchange Act”) that will require registrants to provide certain climate-related information in their registration statements and annual reports.  The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition.  In addition, under the final rules, certain disclosures related to severe weather events and other natural conditions will be required in a registrant’s audited financial statements."

Even with more stringent provisions left out, critics torch SEC's final climate disclosure rule | Just The News “While this rule will undoubtedly be challenged and hopefully overturned, the SEC embarrassed itself today. By bending to extreme climate activists and their grifting Wall Street allies, Gensler’s SEC has forever undermined its respectability,” Will Hild of Consumers' Research said.

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