Representative Steve Scalise | Official U.S. House headshot
Representative Steve Scalise | Official U.S. House headshot
WASHINGTON, D.C.— Today, House Majority Leader Steve Scalise (R-La.) released a statement criticizing the SEC's Climate Disclosure Rule. Scalise expressed his concerns by stating, "Today, the SEC announced that it has allowed radical climate activists to hijack our capital markets. Unable to push their unpopular agenda through Congress, these leftists have found a willing partner in SEC Chairman Gary Gensler."
Furthermore, Scalise highlighted his objection to the SEC's actions, saying, "Despite no clear Congressional authorization, the SEC has announced its intention to become a climate regulator with this rulemaking. Instead of protecting investors and promoting our capital markets, the SEC will use its disclosure regime to endorse the latest preferences of radical ESG activists."
The House Majority Leader also raised apprehensions about the financial implications of the rule, stating, "The winners in all of this will be the lawyers, accountants, and climate consultants who will now be able to charge our public companies huge fees to comply with this new rulemaking. Meanwhile, average investors saving for retirement will be left footing the bill."
In conclusion, Scalise emphasized the importance of safeguarding the integrity of the capital markets, asserting, "Our capital markets are the envy of the world and a driver of our economic prosperity. We cannot sit by idly as radical activists attempt to transform them into tools for their ill-advised social agenda. Congress will act to protect our economic prosperity and energy security by overturning this rule."
Alerts Sign-up