Warren Presses SEC to Keep Tough Climate Risk Disclosure Rule

Sen. Elizabeth Warren is pressuring SEC Chair Gary Gensler to finalize a strong climate risk reporting rule for public companies.
The proposed SEC rule would require companies to report greenhouse gas emissions throughout their supply chains, known as Scope 3 emissions.
Warren and 25 other Congressional Democrats signed a letter urging the SEC to keep Scope 3 disclosure requirements in the final rule.
Private equity firms are failing to properly disclose climate risks tied to their investments, the lawmakers' letter claims.
Gensler has signaled changes to the proposed rule but hasn't specified what they will entail.

politico.com

Relevant topic timeline:

9/18/2023

SEC's Gensler Accused of Overreach in Crypto Crackdown While Ignoring Meme Stock Mania

Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), is facing criticism for his alleged corrupt practices and his crackdown on cryptocurrencies, with some accusing him of selectively targeting companies and undermining justice and market integrity.

9/27/2023

Gensler Faces Criticism in House Hearing Over SEC's Crypto Custody Guidance

SEC Chairman Gary Gensler faced criticism during a House Financial Services Committee hearing regarding the SEC's policies and actions, including the issuance of Staff Accounting Bulletin (SAB) 121 on accounting and disclosure of crypto assets, without consulting prudential regulators or the Financial Accounting Standards Board (FASB). The bulletin, which requires disclosure of risks associated with digital asset custody, has faced opposition and accusations of being "regulation disguised as staff guidance." Issues such as the approval of spot Bitcoin exchange-traded funds and the SEC's stance on Grayscale's Bitcoin ETF application were also discussed.

9/28/2023

Gensler Faces Backlash at House Hearing, Accused of Stifling Innovation and Pushing 'Woke' Agenda

SEC Chair Gary Gensler faces criticism from lawmakers, including accusations of kneecapping capital markets and calls for his firing, during a congressional hearing on market oversight, while also dodging questions about Bitcoin and Pokemon cards.

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Posted 9/27/2023, 12:15:00 PM