Pirate's Cove

That would be Securities And Exchange Commission, not Southeast Conference

S.E.C. Moves to Kill Climate Disclosure Rule

The acting chair of the Securities and Exchange Commission, Mark Uyeda, took the first step on Tuesday to rolling back a rule that would require thousands of publicly traded companies to provide investors with detailed information about the impact of their businesses on climate and the environment.

Mr. Uyeda said in a statement that he was directing the S.E.C.’s legal team to inform a federal appellate court that the regulator was pausing its defense of the so-called climate change disclosure rule. The regulation, adopted last year, is being challenged in court by a number of business groups and state attorneys generals.

The polarizing measure requires companies to identify the impact of their business activities on the climate, in particular the creation of greenhouse gases that have contributed to the warming of the planet. Companies must provide data in regulatory filings that will help investors quantify the impact and risk to their investment in a company. Companies also most provide information about the financial cost of steps it is taking to minimize the climate impact of its business activities.

The rule aims to give investors a clearer picture of the risks that companies might be exposed to because of climate change and its effects, including droughts and wildfires, changes in government environmental policies or consumers’ declining interest in products that contribute to global warming.

Yeah, well, it’s a doomsday cult rule which will over-burden companies for the hell of it. Well, because they’re cultists who do not understand business and want to force Everyone to comply with their cult.

The decision by the S.E.C. to tell the U.S. Court of Appeals for the Eighth Circuit to pause any further proceedings in the matter is an indication that the regulator may eventually move to rescind the rule or modify it.

Here’s hoping. It would be one more nail in the cult’s coffin. Of course, they’ll try again in the future.