Requiring publicly traded companies to make climate-related disclosures has voluntarily been put on hold by the Securities and Exchange Commission.
The SEC’s move came before a decision was reached by the 8th U.S. Circuit Court of Appeals. John Rady, counsel for the SEC in the case, notified the court in a letter.
Read More
The Securities and Exchange Commission’s (SEC) has been slammed with comments from supporters and critics of its proposed climate disclosure rule.
The release of the final rule has been continually delayed, but its publication is anticipated in the next few months. Congressional Democrats are urging for it to be done sooner rather than later.
Read More
Washington’s revolving door is getting a fresh green paint job: Federal architects of a controversial new rule requiring businesses to measure their carbon footprints throughout their supply chains have joined a start-up company poised to reap millions by performing those calculations.
At least three ranking Securities and Exchange Commission officials have joined Persefoni, a company formed in 2020 for the purpose of measuring such footprints of large business enterprises.
Read More
As former President Donald Trump’s social media platform soared to its best month ever, a growing number of Republicans in Congress are expressing concern that the Biden Securities and Exchange Commission may be slow-walking a compliance review to thwart a merger that could inject hundreds of millions of dollars into Truth Social from investors.
Read More
Microsoft is laying off 10,000 employees, nearly 5% of its workforce, in what the tech company calls a “response to macroeconomic conditions and changing customer priorities,” according to a Securities and Exchange Commission filing Wednesday. The workers will be laid off by the conclusion of the third fiscal quarter this year, the company said.
Read More
The Securities and Exchange Commission on Wednesday announced charges against eight “social media influencers” in what the agency said was a coordinated effort to manipulate stocks via multiple Internet platforms.
The agency said in a press release those charged where involved in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to “manipulate exchange-traded stocks.”
Read More
In the approaching 2022 midterm elections, American voters will have the opportunity to decide whether oil industry executives are really to blame for high energy prices—or if it’s instead the political class that needs a shakeup.
In a new report for Real Clear Energy, Joseph Toomey, a career-management consultant, makes a persuasive case that the energy inflation now victimizing American consumers and taxpayers is the result of deliberate public-policy choices made here at home. Even as President Biden vilifies energy companies, the evidence is overwhelming that the current regime in Washington is beholden to climate extremism at the expense of affordable energy, Toomey argues.
Read More
A coalition of 16 Republican governors sent a letter Tuesday to President Joe Biden, urging him to rescind a proposal introducing a series of climate requirements for companies.
The recent Securities and Exchange Commission (SEC) proposal, which forces publicly-traded companies to share so-called climate change risks and greenhouse gas emissions, would harm businesses and investors by adding high compliance costs, the governors argued in the letter addressed to both Biden and SEC Chairman Gary Gensler. The climate disclosure rule, they added, would also represent an overstepping of the SEC’s authority.
Read More
America’s top financial regulator issued climate disclosure rules that are more burdensome for smaller companies than large companies, according to the agency’s own analysis.
While the rules would cost large corporations $640,000 at first and $530,000 in subsequent years, they would cost smaller publicly-traded companies $490,000 initially and $420,000 in following years, the Securities and Exchange Commission (SEC) said in its proposal. The regulator’s analysis suggests that smaller companies would feel a relatively larger financial burden as a result of the proposed disclosure rules.
Read More
A group of 40 House Republicans sent a letter to the Securities and Exchange Commission (SEC) Monday, urging the agency to rescind a regulatory proposal forcing companies to disclose “climate-related risks.”
The Republicans, led by House Oversight Subcommittee on Environment Ranking Member Ralph Norman, slammed the financial regulator, saying it exceeded its congressionally-mandated authority in issuing the climate rule, in the letter obtained exclusively by the Daily Caller News Foundation. The lawmakers added that the rule was especially inappropriate given the ongoing energy crisis.
Read More
The biggest decision the Securities and Exchange Commission (SEC) is likely to make this year will be on mandated disclosure of information related to climate change and corporate environmental, social, and governance (ESG) goals. The Commission has been working on the issue since early last year, and a new proposed rule is now scheduled to be released on March 21st. The contents of that rule will likely determine the future direction of “responsible” investing in the United States.
In March of last year, then-Acting Chair Allison Herren Lee issued a request for information on the matter, consisting of 15 questions and described as a response to the “demand for climate change information and questions about whether current disclosures adequately inform investors.” The questions covered a wide range of topics, from how to measure greenhouse gas emissions to how climate disclosures “would complement a broader ESG disclosure standard.”
When the SEC first issued guidance on climate change-related disclosures for public companies in 2010, the standards were fairly general and advisory, but the questions from last year’s request-for-information suggests that the agency’s leadership is considering a more aggressive and prescriptive framework.
Read More
Corporations, including Citigroup, Apple and Match, are helping their employees undergo abortions in light of new, state-level restrictions.
Citigroup announced a policy of covering travel costs for U.S.-based employees seeking abortions “in response to changes in reproductive healthcare laws in certain states” in a Securities and Exchange Commission (SEC) filing. The policy will cover airfare and lodging, according to Bloomberg.
Read More
While Republican Pennsylvania Senate candidate Dr. Mehmet Oz has billed himself as a staunch opponent of big corporations, his ties to major technology and pharmaceutical corporations complicate his campaign rhetoric.
Oz, who announced his candidacy in late November, is running for the empty Senate seat left by retiring Republican Pennsylvania Sen. Pat Toomey. The celebrity doctor has made opposition to major technology and pharmaceutical companies a hallmark of his campaign, pitching his experience working in television and exposing scams as an example of his anti-corporate positions.
Read More