SEC proposes rule mandating companies tally greenhouse emissions, disclose climate change risk

The Securities and Exchange Commission voted Monday to propose a new rule requiring public companies to report risks related to climate change and their own greenhouse gas emissions, in a move that puts the agency at the center of a debate over whether financial regulators have a role to play in protecting the U.S. economy from the effects of a warming planet.

“Today, investors representing literally tens of trillions of dollars support climate-related disclosures because they recognize that climate risks can pose significant financial risks to companies and investors need reliable information about climate risks to make informed investment decisions,” SEC Chairman Gary Gensler said prior to the vote.

The most controversial aspect of the rule proposal relates to Scope 3 emissions, or greenhouse gases released by a company’s customers in their use of a company’s product and by a company’s suppliers in the process of creating inputs. If the SEC votes to propose the rule, the public will have at least 60 days to submit comments critiquing the proposal. The comment period will end either 60 days from Monday, or 30 days after the proposal is published in the Federal Register, whichever period is longer. The SEC will then amend the rule based on public input and hold a separate vote to put the rule into effect. Depending on a company’s size, the rules could take effect as soon as 2024.

Why doesn't Gensler require companies to disclose the risks of doing business, manufacturing or marketing, in China? Doesn't fit with the administration agenda like climate change, perhaps.

How about we worry about the bullshit corrupt hedge funds that are using synthetics to fuck retail traders.

This will really help get the economy going , or just destroy business's that are barely surviving

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