March 22, 2022
I am adamantly opposed to SECs Climate Related Disclosures.
Your mandate is to protect investors and foster sound markets, not hassle American companies.
I perceive no benefits whatsoever.
As a shareholder, I will not waste my time reading these disclosures, either by companies in my portfolio or future investments.
Existing 10Ks and financial disclosure unreadable, thanks to bloated bureaucratic language imposed by SEC. These environmental essays will make 10Ks worse.
Compliance will be costly and burdensome to American businesses, and endless costly litigation will result. Greedy lawyers will thank the SEC. American executives will be forced to divert attention to onerous government disclosures.
SEC is pandering to leftist legislators and environmental cult members.
China and Russia would never impose such burdens on their companies. Chinese companies are already eating our lunch.
Imposing environmental disclosures is a bad joke. The presidents green energy crusade relies on solar and wind turbines manufactured in China China dominates 85% of global manufacturing and an outright monopoly (95%+) on metals and material input to solar/wind manufacturing, China is constructing more than 300 coal powered electric plants as we speak. Do SEC commissioners think China is foolish enough to impose such disclosure requirements on Chinese companies?
Environmental matters are not the SECs mandate. SEC lacks environmental expertise and jurisdiction. SEC failures to curb Bernie Madoff raise doubts about SECs effectiveness in your historical mandate, and you want to meddle in the environment?