Securities and Exchange Commission headquarters in Washington, D.C. (Andrew Kelly/Reuters)

The agency is poised to create full employment for the ‘climate–industrial complex.’

NRPLUS MEMBER ARTICLE T he Securities and Exchange Commission (SEC) voted 3–1 this week to propose new rules by which public companies would be required to disclose additional information related to their greenhouse-gas emissions and the climate risks they may face. This is a major move for the agency, which had previously tried to avoid taking sides in politically contentious public-policy debates. The SEC’s proposal would be difficult, on any reasonable interpretation, to square with the exercise of its normal authority over financial markets, and is yet another troubling example of regulatory mission creep. It is also a disappointing and alarming development for those


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