‘It’s a way for climate activists to really get their claws into every aspect of business’ without a congressional vote – Watts Up With That?
Marc Morano’s Total climate inventory told AFN that the SEC vote represented a backdoor effort by climate activists to use a “layer of bureaucracy” to enact their radical agenda but failed to get Congressional approval. via. “They’re not asking Congress to pass a big bill with public hearings and town hall meetings, and talk radio and voters calling,” he said. “They’re doing this through administrative state regulators.” …
Morano predicts the SEC will do more than just collect information: Companies that don’t respond to environmentalists’ demands, he said, will be harassed for not performing their role. “It’s a way for climate activists to take literally every aspect of the business because these revelations will be used against them,” he told AFN. “All they can do and report will be used against them by climate activists and Biden administration officials.”
Via: administrators – Total climate inventory March 22, 2022 2:32 pm
Big Business sees backdoor scheme for digging, shaming and harassment
By Chris Woodward, Billy Davis
The staunch Democrats who abandoned the economy-wracking “Green New Deal” who watched their radical plan die before Congress, and now they’re putting it on latest strategy: Private corporations must comply with climate-related mandates to participate in the stock market.
On Monday, the US Securities and Exchange Commission voted 3-1 to pass new “climate risk” rules that require publicly traded companies to report their emissions. their greenhouse and describe how climate change is affecting their business.
According to The Associated Press, public companies will also be required to develop transition plans to manage climate risks; explain how they intend to meet climate goals; and document the impact of extreme weather events on their finances.
Marc Morano’s Total climate inventory told AFN that the SEC vote represented a backdoor effort by climate activists to use a “layer of bureaucracy” to enact their radical agenda but failed to get Congressional approval. via.
“They’re not asking Congress to pass a big bill with public hearings and town hall meetings, and talk radio and voters calling,” he said. “They’re doing this through administrative state regulators.”
In fact, the AP story says the SEC vote represents a “passing momentum.” [federal] government to tackle climate change. That goal comes after President Joe Biden last year announced cutting greenhouse gases and transitioning the US to “clean energy” by 2030, the story said.
Hester Peirce, the only Republican of the four SEC commissioners, voted against the proposal.
“We cannot make such fundamental changes without harming ‘companies, investors and the SEC’,” she said. “The results will not be reliable, let alone comparable.”
‘Big business’ is considered the enemy of the planet
Dating back to the 1960s, the environmental movement has viewed private corporations as greedy enemies, spewing pollution of the planet. That view of Big Business has only gotten worse in recent decades as activists advocate a doomsday-like view, the planet is warming up from gasoline and diesel, and now humanity will die if we don’t abandon fossil fuels and use “renewable energy” for electricity and cars.
According to the AP story, private businesses will be required to document the greenhouse gas emissions generated – even indirectly – as a result of their operations. The rule also requires that company shipping-related documents, such as the vehicles used to transport their products and even employees’ business travel, be taken into account.
The same AP story says climate activists have “called out” for companies to make mandatory disclosures because they estimate a company’s exclusion of indirect greenhouse gas emissions would cost money. take 75% of those emissions statistics.
Morano predicts the SEC will do more than just collect information: Companies that don’t respond to environmentalists’ demands, he said, will be harassed for not performing their role.
“It’s a way for climate activists to take literally every aspect of the business because these revelations will be used against them,” he told AFN. “All they can do and report will be used against them by climate activists and Biden administration officials.”
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This is the official press release.
SEC proposes rules to enhance and standardize climate-related disclosures for investors
REPORTED IMMEDIATELY
2022-46
Washington DC, March 21, 2022 –
Today, the Securities and Exchange Commission proposed rule changes that would require registrants to include certain climate-related disclosures in their registry and periodic reports, including: include information about climate-related risks that have the potential to materially affect their business, results of operations or financial position, and climate-related financial reporting metrics specified in the notes to their audited financial statements. Mandatory information on climate-related risks will also include the disclosure of registrants’ greenhouse gas emissions, which have become a commonly used metric for assessing human exposure. register for those risks.
“I am pleased to endorse today’s proposal because, if approved, it will provide investors with consistent, comparable and decision information useful to make investment decisions. and it will provide consistent and clear reporting obligations to issuers,” said SEC Chairman Gary. “Our core bargain since the 1930s has been that investors can decide what risks to accept, as long as public companies provide complete and fair information and are truthful in their disclosures. that disclosure. Today, investors represent tens of trillions of dollars in favor of climate-related disclosures because they recognize that climate risks can pose significant financial risks to companies and Investors need reliable information on climate risks to make informed investment decisions. Today’s proposal will help issuers more efficiently and effectively disclose these risks and meet investor needs, as many issuers have sought to do. Companies and investors alike will benefit from the clear rules of the road proposed in this release. I believe the SEC has a role to play when there is a need for consistent and comparable information that can affect financial performance. Therefore, today’s proposal is driven by demand from investors and issuers. ”
The proposed rule changes would require registrants to disclose information about (1) the registrant’s management of climate-related risks and related risk management processes; (2) any climate-related risks that the registrant determines have had or are likely to have a material effect on their business and consolidated financial statements, which may manifest in short, medium or long term; (3) any identified climate-related risks that have affected or are likely to affect the registrant’s strategy, business model and outlook; and (4) the impact of climate-related events (severe weather events and other natural conditions) and conversion activities on the line items of the consolidated financial statements of registration, as well as financial estimates and assumptions used in the financial statements.
For registrants who have conducted scenario analysis, have developed transition plans, or have publicly set climate-related goals or objectives, the proposed amendments would require certain disclosures to enable investors to understand those aspects of the subscriber’s climate risk management.
The proposed rules would also require registrants to disclose information on direct greenhouse gas (GHG) emissions (Scope 1) and indirect emissions from purchased electricity or other forms of energy (Scope 1) 2). In addition, registrants will be required to disclose GHG emissions from upstream and downstream activities in their value chain (Scope 3), if physical or if the registrant has set targets or objectives GHG emissions targets include Scope 3 emissions. These GHG emission disclosure proposals will provide investors with useful decision-making information for assessing registrant exposure and management. for and manage climate-related risks and, in particular, transition risks. The proposed rules would provide a safe haven for Scope 3 emissions disclosure liability and waive the Scope 3 disclosure requirement for smaller reporting companies. The proposed disclosures are similar to those provided by many companies based on generally accepted disclosure frameworks, such as the Climate-Related Financial Disclosure Task Force and Protocol on Greenhouse Gases.
Under the proposed rule changes, fast miners and large accelerators will be required to include attestation reports from an independent attestation service provider on development claims. emissions in Scopes 1 and 2, with time periods, to improve the reliability of GHG emissions claims for investors.
The proposed rules would include a period for all registrants, with compliance dates dependent on registrant status, and an additional period for Scope 3 emissions disclosures.
The proposed release will be published on SEC.gov and in the Federal Register. The comment period will remain open for 30 days after publication in the Federal Register, or 60 days after publication and publication on sec.gov, whichever is longer.
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