Apr. 08, 2022
17 CFR 210, 229, 232, 239, and 249 [Release Nos. 33-11042; 34-94478; File No. S7-10-22] RIN 3235-AM87 Dear SEC, This proposed enhanced environmental footprint disclosures is an onerous, colossal waste of time and resources for businesses. It will lead to billions of money spent on a nightmare of a compliance administrative structure, which will drag on company bottom-lines and lead to higher prices for consumers. Social agendas should not be engineered into business practices via SEC rule making. The groups lobbying for these rules, while perhaps well-meaning in terms of their general concerns over environmental issues, will negatively impact corporations and injure irrevocably the US economy. You must not be lured into believing these rules are “good for the environment”, therefore we should just do it. The logic is flawed and based on activist investor strategy. In a global economy this will unnecessarily lead to competitive disadvantages for US companies and promote the offshoring of our corporations. Or worse, less capitalized and companies that are already struggling to restore profitability due to COVID losses, rising inflation and higher energy prices, will fail or if it is possible will be taken private by well-capitalized hedge funds and other opportunistic investors. These proposed rules will further consolidations within already limited competitive environments, benefit only the large firms and wealthy investors and cause tremendous costs to consumers. This rule is bad for everyone and every business except for the largest firms and wealthiest investors. In the end, this is a thinly veiled, back-door anti-competitive strategy, which will allow for yet another massive transfer of wealth from the bottom of society to the top. I strongly suggest you do not implement this rule or any rule of this nature. Sincerely, Sherry Russell, Individual Investor Potomac, MD