By Andrew N. Vollmer–Senior affiliated scholar with the Mercatus Center at George Mason University, former professor of law, general faculty, at the University of Virginia School of Law, former deputy general counsel of the Securities and Exchange Commission, and former partner in the securities enforcement group of Wilmer Cutler Pickering Hale and Dorr LLP. The…
The American Enterprise Institute (AEI) recently announced an upcoming virtual event on December 7 at 2pm ET: “A Discussion of the Proposed Securities and Exchange Commission Rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors.” Moderated by AEI Senior Fellow Benjamin Zycher, the event will feature the following speakers: Hester M. Peirce, Commissioner, Securities and Exchange Commission…
The Securities and Exchange Commission’s (SEC) proposed climate disclosure rule continues to raise concerns among investors nationwide. In particular, 10 of the largest U.S. asset managers had much to say during the rulemakings public comment period. In July, Morningstar Manager Research conducted an analysis of those key responses, finding that the majority do not support…
With the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule decision lingering, the Wall Street Journal (WSJ) Editorial Board took to its platform to give the SEC Chair, Gary Gensler, his own performance review. For starters, WSJ noted that Gensler has drastically increased the number of rule-makings on the SEC agenda, proposing 26 new rules in the…
A recent Law360 article discusses what could happen to businesses should the SEC’s proposed climate disclosure rule be enacted. Among many things, the rule will mandate companies provide more detail on their greenhouse gas emissions and their climate risk exposure. These new details include Scope 3 emissions, which are entirely outside of a company’s control. Not only…
When the Securities and Exchange Commission (SEC) announced their proposed “climate disclosure rule” back in March, many took to their comment docket to express their opinions and criticisms. Benjamin Zycher, Senior Fellow at American Enterprise Institute, was one of many who shared a common view on the issue. Zycher summarized the rule to be an overstep of…
Recently, RealClearFoundation senior corporate governance fellow Bernard Sharfman and Manhattan Institute director of legal policy James Copland joined forces for a Wall Street Journal op-ed to discuss their views on the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule. The title of the piece says it all, “The SEC Can’t Transform Itself Into a Climate-Change Enforcer: It…
As part of the Securities and Exchange Commission’s (SEC) comment period for the proposed climate disclosure rule, Dr. Ellen R. Wald with the Atlantic Council Global Energy Center submitted her concerns. Dr. Wald is specifically concerned with the mandated scope 3 emissions that companies will be required to report on should the proposed rule be…
In mid-August, Attorneys General (AGs) from 21 states sent a comment letter to the Securities and Exchange Commission (SEC) to voice their concern that the SEC is continuing their attempt of overreach with additional encouragement of environment, social, and governance (ESG) investing. The AGs compare the situation to the recent West Virginia v. Environmental Protection…
In early August, the CEO of Canary Oilfields Dan Eberhart testified before the Senate Committee on Banking, Housing, and Urban Affairs and addressed the Securities and Exchange Commission’s (SEC) proposed climate disclosure rule. Eberhart’s main concern is that the effect of this rule will be “to drive capital away from badly needed conventional energy and infrastructure projects,…