The Energy Alliance Files Comments on SEC’s Climate-Related Disclosure Rule

The commission should halt consideration of the proposed rule

AUSTIN, TEXAS [July 5, 2022] — The Energy Alliance recently filed comments on the Security and Exchange Commission’s Climate-Related Disclosure Rule encouraging the SEC to halt consideration of the rule. The rule would add billions of dollars of compliance costs to the American economy while steering investment into more expensive and less reliable forms of energy.

“These required disclosures will harm the American economy while providing little information to the market that is not already available,” said Bill Peacock, the policy director of the Energy Alliance. “Any benefits to investors of the disclosures required under the proposed rule are likely to be negligible, or nonexistent.”

Adoption of the rule would reduce competitiveness in the market as companies seek to comply with it by accepting some of the prescriptive actions the rule suggests companies should take to address climate change. The result of this is that market participants will not be able to properly adapt to new challenges and new competitors with new technology, increasing the potential of future economic and environmental harm of the rule.

“We encourage the commission to halt consideration of the proposed rule and let the climate change debate take place in more appropriate venues, including Congress, the market, and the American public,” said Peacock. 

The Energy Alliance is a project of the Texas Business Coalition to raise awareness of issues about the energy market that matter most to consumers: Reliability, Affordability, and Efficiency.

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