SEC climate disclosure proposal politicizes corporate oversight
March 24, 2022 SEC climate disclosure proposal politicizes corporate oversight
Director of the Free Enterprise Project (FEP) Scott Shepard commented on the environmental regulations proposed by the United States Securities and Exchange Commission (SEC) in its last column for Real Clear Markets.
“The most profound danger that arises from this proposed rule,” Scott wrote, “is that it will permanently politicize corporate oversight in the United States, and thus ultimately, completely undo American productivity advantages.”
This weekEC President Gary Gensler has proposed a rule that would require companies to report their emissions based on hard-left climate-catastrophic assumptions. Scott’s comment in response explained why the rule would stifle American production and deepen the dangers of socialism and how regulation could lead us further down the road to serfdom.
“One of the central geniuses of free-market capitalism is its power as an engine of innovation,” Scott continued, worrying about how such bureaucratic politicization of corporate America is taking us further away from the founding ideals that enabled our nation to prosper. “The further a system deviates from this free market ideal, the less well the engine of innovation runs and therefore the less prosperous everyone is.”
“If the rules of American business – the rules that apply to the daily conduct of business of every public company – fundamentally change every time control of the White House changes parties, American business will be crippled,” Scott wrote. .
To read the full article and learn more about the dangers of the proposed SEC rule, click here.