FreedomWorks Foundation Files Comment Opposing SEC Proposal To Mandate Disclosure of Climate Risks

WASHINGTON, D.C. — FreedomWorks Foundation today filed a comment opposing the Securities and Exchange Commission’s (SEC) proposal to mandate that public companies disclose their impact on climate change. Our activists filed 1263 comments opposing this proposal.

Adam Brandon, FreedomWorks President, commented:

“This complex, 500+ page regulatory scheme would require public companies to report their various impacts–and that of their suppliers and customers–on ‘climate change.’ This complicated legislation-through-regulation proposal will saddle companies with billions in new costs and facilitate the Left’s effort to destroy America’s oil and gas industry.”

“Companies are already required to report ‘material’ risks, as well as greenhouse gas emissions. Why do we need to add another level of bureaucracy when we should be encouraging production of energy-essential oil and gas?”

“If finalized, this massive new regulatory burden will force companies to shift resources from innovation and job creation to compliance with the Left’s mandate and further escalate energy prices. As a result, Americans will pay more for everything, including food. As gas prices continue to climb, will Biden start blaming gas station attendants next?”