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Simpson Tells SEC to Revoke Proposed Climate Rule

Simpson Tells SEC to Revoke Proposed Climate Rule

Washington, D.C. – Idaho Congressman Mike Simpson today joined over 130 of his Republican colleagues in urging the U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler to rescind a recently proposed rule requiring publicly traded companies to disclose extensive climate-related data.  The proposed rule would impose burdensome reporting requirements on all entities and place unworkable climate disclosure regulations on farmers, ranchers, and our nation’s agricultural producers.

“It is not the job of the SEC to police businesses on climate policy,” said Simpson. “The proposed rule is far beyond the appropriate reach of the SEC and must be immediately revoked to maintain the agency’s independent facilitation of the capital market.”

The letter notes that the SEC’s mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation – not to arbitrate business’s strategies to combat climate change. The letter calls on Chair Gensler to revoke the proposed rule and focus on the SEC’s core mission rather than the social agenda of the far left.

Click here to read the full letter and list of signers.