The SEC Climate Disclosure Proposal: The 22 Critics Get More Attention

From WealthBriefing.com:

A group of 22 law and finance professors in the US have urged the Securities and Exchange Commission to scrub plans to force publicly listed companies to disclose the climate impact of their activities. The academics say the SEC is significantly exceeding its authority. ...

“We respectfully urge the SEC to withdraw the Proposal. We are concerned that the passions of this topic have led the SEC to overzealous rulemaking that exceeds its authority. Governments, above all, must adhere to the rule of law, especially when officials believe honestly and fervently in a specific agenda. The federal securities laws focus on investor protection generally, while the Proposal prioritizes the demands of a subset of the global investment industry. We encourage the SEC to focus on all American investors, not just the most vocal and activist voices,” the letter said.

The letter is signed by figures such as Stephen M Bainbridge (UCLA), Bernard S Black (Northwestern), Jessie M Fried (Harvard), Paul G Mahoney (Virginia), Julia D Mahoney (Virginia), and Todd J Zywicki (George Mason).