Originally published at The Daily Caller
In a setback for former government officials and attorneys poised to cash in on proposed climate disclosure rules, the Securities and Exchange Commission continued to kick the ball down the road last year.
Many of the objections raised in public comments revolve around so-called Scope 3 emissions that are not directly produced by companies and instead result from what occurs “upstream” and “downstream” of a company’s activities. That’s a problem because if the SEC rule is finalized the commission would effectively extend its jurisdiction to include private companies that transact business with public firms registered with the SEC.
There’s a strong case to be made that under this scenario the commission would be overstepping its authority, which would help to explain why the SEC has continuously slow-walked its proposal.
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