Jun. 16, 2022
June 16, 2022 As the creator of a college course on the societal impact of technology, I am keenly aware of externalities that distort economic decisions. As we learned long ago with respect to, say, the dumping of toxic waste into rivers, companies are inevitably pushed into socially and environmentally destructive paths if social/environmental costs are excluded from their analysis of business practices. If we are to bequeath a livable planet to our children and grandchildren, we must internalize the costs of climate change. The proposed SEC rules are a key step in that direction. Shareholders and the public at large need to be informed regarding climate impacts, and companies need the pressure of informed shareholders and customers to help them make good decisions. The future of civilization is literally at stake.