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This is nuts, the Securities and Exchange Commission is acting far outside it's legal jurisdiction, by creating new division of the government, which will place far reaching and draconian financial burdens on publicly traded companies.
The Securities and Exchange Commission (SEC) has issued a proposed rule that one of its commissioners, Hester Peirce, fears will turn the agency into the “Securities and Environmental Commission.” In this comprehensive proposal, the SEC has recommended far-reaching new requirements for publicly traded companies to disclose the impacts of climate change on business operations and governance.
The long-awaited proposed rule, for which Peirce was the lone and vocal dissenter, would amend SEC Regulations S-K and SX to require detailed new disclosure requirements for “climate-related risks” that have had or are likely to have a material impact on a company’s business and finances over the short, medium and long terms. The risks to be disclosed would include:
* How climate-related risk will affect the registrant’s “strategy, business model and outlook”
* The company’s processes for identifying, assessing, and managing climate-related risks
* Board and management oversight of climate-related issues
* The impacts of climate-related events and risks on line items of a registrant’s consolidated financial statements.
There are foreign companies that trade on the exchange and are not subject to any climate change policies the US passes.
Talk about a can of worms...investors will not put up with this crap when it comes to their money.
There are plenty of mutual funds that screen for climate change and eco friendlyness in companies.
Leave it to those mutual fund companies to do...not the SEC.
As an investor, I give zero flying ****s what the corporations I invest in are doing about the environment. The only thing I care about is their EPS, my return on investment, and how they're planning to grow it.
Investors have been pushing for something along these lines for a while. Like many other SEC rules it relates to disclosure but does not require any change in operations. If an investor doesn't care about this, the investor is free to ignore the disclosure. One of the most important functions of the SEC is to give investors the ability to make informed decisions.
Investors have been pushing for something along these lines for a while. Like many other SEC rules it relates to disclosure but does not require any change in operations. If an investor doesn't care about this, the investor is free to ignore the disclosure. One of the most important functions of the SEC is to give investors the ability to make informed decisions.
And these requirements cost money to comply with. Any investor is free to call the Investor Relations line and ask these questions.
None of the bullet points above have anything to do with anything material to an investor's decision.
And as said downthread, if you want help making an informed decision, hire a financial advisor. The SEC's job is to make sure publicly listed corporations aren't cooking the books.
Investors have been pushing for something along these lines for a while. Like many other SEC rules it relates to disclosure but does not require any change in operations. If an investor doesn't care about this, the investor is free to ignore the disclosure. One of the most important functions of the SEC is to give investors the ability to make informed decisions.
Protect investors
Maintain fair, orderly, and efficient markets
Facilitate capital formation
The main purposes of these laws can be reduced to two common-sense notions:
-Companies offering securities for sale to the public must tell the truth about their business, the securities they are selling, and the risks involved in investing in those securities.
-Those who sell and trade securities – brokers, dealers, and exchanges – must treat investors fairly and honestly.
Investors have been pushing for something along these lines for a while. Like many other SEC rules it relates to disclosure but does not require any change in operations. If an investor doesn't care about this, the investor is free to ignore the disclosure. One of the most important functions of the SEC is to give investors the ability to make informed decisions.
And there's plenty of research and recommendations on "green" companies.
The SEC does not need to do a thing.
As a corporate governance attorney for public companies for many years who has worked on more 10Ks and proxy statements than many on this board, I am aware. Adjustments have to be made every year for the various disclosures investors have wanted enough to agitate for. I started practicing before the Sarbanes Oxley Act, so I have witnessed many changes in disclosure requirements. This is not nearly as large of a change as some.
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