WASHINGTON, D.C. — In response to acting Chairwoman Allison Lee’s request for public input on the Security Exchange Commission’s (SEC) decision to require companies to disclose “information about climate change-related risks and opportunities,” Adam Brandon, FreedomWorks President, commented:
“The SEC’s notice that they will move forward with requiring businesses to disclose information regarding climate change is simply the continuation of the Biden administration’s push to pick winners and losers in American markets. Requiring all firms to abide by one-size-fits-all disclosure rules merely creates new burdens on smaller businesses who lack the resources of large conglomerates who have pushed for these mandates.
“As it stands, corporations who wish to disclose such information to investors are already allowed to do so under the guidance established in 2010. Creating a requirement out of this voluntary system would do little to inform investors beyond the status quo.”