The SEC’s new climate related reporting requirements for corporations sound fairly benign.
According to the summary: “The Act would require registrants to provide certain climate-related information in their registration statements and annual reports.”
Simple right? Well, no. Believe it or not, it actually takes the SEC nearly 500 pages of incomprehensible legal mumbo jumbo to define what “certain climate-related information” actually means.
David Burton of the Heritage Foundation and an expert on financial regulation, notes this single act would “raise costs to public companies from $3.9 billion annually to $10.2 billion.”
That’s a 262% rise in costs – that will ultimately be paid by shareholders and pension funds.
And remember, this is just ONE of the hundreds of new rules from the Biden regulatory octopus.