Jun. 10, 2022
I do not support waste. The proposed rule is not good for the consumer, it makes products and services more expensive. As someone who knows business owners and participates in running a business, regulations raise costs. Costs are always passed on to ordinary citizens. These disclosures only benefit certain industries and job types: white collar and elite jobs. For example, consultants, lawyers, lobbyists and accountants needed just to sort through complicated and laborious regulation. I do not support furthering the agenda of special interests by making honest companies and consumers pay their fee. The SEC does not have authority to make climate policies. Congress does. An administrative agency should not assert misplaced authority over a subject that should be sorted by elected officials who are accountable to their constituents. SEC does not have the credibility to assess how such disclosures by companies actually benefit the environment. As a shareholder of a company, I am interested in value creation. Broad disclosures, which will be based on guesses at best, cannot be broadly applied. The only guarantee is more expenses for companies with no value created in return for customers or shareholders. Runaway inflation impacts me and my family. Increasing costs for companies only means that I will pay more for goods, which I am now. This is unfathomable giving todays historic inflationary environment. With gas at $5 plus a gallon, this agenda further pushes us to be dependent on other countries for energy. America should focus on our independence and sovereignty. This rule aims to shame companies, not accelerate technologies and investment that actually reduces waste and benefits the environment. If driving adoption of company ESG scores limits business access to loans and the capital markets, companies will go out of business at the expense of specific woke agendas that are mislabeled as green.