May. 04, 2022
The Securities and Exchange Commissions proposed Rules to Enhance and Standardize Climate-Related Disclosures for Investors rule is averse to investors, consumers and taxpayers.
It would provide little-to-no real value but would be costly and likely divert management attention from corporations reason for being: which is to bring valuable products and services to the market, and by doing so to improve the lives of their consumers.
Increased reporting cost would likely also drive more small-to-medium sized public companies to go private, or prevent private companies from going public, depriving investors of investment options and potentially reducing companies ability to grow.
Ironically, the environment would likely also be a loser, as increased reporting and oversight would drive increased use of energy and materials.
The true beneficiaries of this rule would be environmental consultants, class-action attorneys and the government payroll, while the investing public and consumers would ultimately pay for all of these increased costs and inefficiencies.