America’s oldest consumer protection organization is opposing sweeping new government CO2 reporting requirements.
The Securities and Exchange Commission’s (SEC) Enhancement and Standardization of Climate-Related Disclosures would require all companies listed on American stock markets to report, in detail, how much CO2 their business is directly or indirectly responsible for emitting—everything from vehicle emissions to how much their employees are emitting working from home to how much their customers are emitting while using their products or services.
This means privately owned businesses and even consumers could be forced to report their CO2 emissions to publicly listed companies and ultimately to the U.S. government.
Consumers’ Research says the rule goes far beyond the SEC’s mandate of maintaining orderly financial markets, facilitating capital formation, and protecting investors. In fact, the watchdog says the new rule could end up hurting American investors.
The public comment period on the new rule has just closed. During the comments period, Consumers’ Research wrote to the SEC opposing the plan. Its executive director, Will Hild, sat down with Fresh Look America’s Paul Greaney to discuss why they think the rule is bad for America.