Elizabeth Warren Pushing New Bill To Force Public Companies To Disclose ‘Climate Risks’
Massachusetts Senator Elizabeth Warren is leading a push for a new bill which would require public companies to disclose threats they pose to climate change. This isn’t about preventing companies from polluting the environment, there are already countless laws for that purpose. This is about advancing the left’s agenda on climate change by allowing politicians like her to step on the necks of business.
Market Watch reports:
Elizabeth Warren leads push by Democrats to force public companies make climate-risk disclosures
Elizabeth Warren of Massachusetts is spearheading an effort by Democratic senators to bring a bill that would require public companies to disclose more information about their exposure to climate-related risks.
The bill, called the Climate Risk Disclosure Act, would direct the SEC, in consultation with climate experts at other federal agencies, to issue rules within one year that require every public company to disclose:
• Direct and indirect greenhouse gas emissions
• All fossil-fuel related assets it owns or manages
• The effect on the company’s market valuation if climate change continues at its current pace or if greenhouse gas emissions were restricted in compliance with the Paris accord goal; and
• What strategies are in place to address the physical and transition risks posed by climate change.
The bill is co-sponsored by Warren’s fellow Massachusetts Democratic Ed Markey and Sens. Sheldon Whitehouse of Rhode Island, Brian Schatz of Hawaii, Cory Booker of New Jersey, Jeff Merkley of Oregon, Kamala Harris of California and Kirsten Gillibrand of New York. It comes more than a year after President Donald Trump pulled the U.S. out of the Paris climate agreement, which has the goal of limiting the global temperature rise to below 2 degrees Celsius by reducing greenhouse emissions. That goal is a crucial one as insurers have said anything higher would make the world uninsurable.
This is what Elizabeth Warren does. Throughout the summer she tried desperately with the help of the media to re-brand herself as a capitalist. She is nothing of the sort.
From National Review:
Elizabeth Warren’s Corporate Catastrophe
The United States is home to 64 percent of the world’s billion-dollar privately held companies and a plurality of the world’s billion-dollar startups. Known in the industry as “unicorns,” they cover industries ranging from aerospace to biotechnology, and they are the reason America remains the engine of innovation for the entire world.
Unless Elizabeth Warren gets her way. In a bill unveiled this week, the Massachusetts senator has put forward a proposal that threatens to force America’s unicorns into a corral and domesticate the American economy indefinitely.
Dubbed the “Accountable Capitalism Act,” Warren foresees the creation of an Office of United States Corporations that would require any company with revenue over $1 billion to obtain a federal charter, binding company directors to “consider the interests of all corporate stakeholders — including employees, customers, shareholders, and the communities in which the company operates.” The bill further requires 40 percent of a chartered company’s directors to be selected by employees and adds statutory restrictions on how executive compensation may be structured.
Make no mistake. Warren is the female version of Bernie Sanders. If you think Obama was bad, you aren’t even ready for what America would look like under her leadership.