Democrats want companies to disclose their climate risks — and fossil fuel industry is worried
Democratic presidential candidates have a sweeping array of proposals to fight climate change, but virtually all the leading hopefuls agree on one relatively simple proposal: forcing companies to disclose the risks they face from a warming atmosphere.
Environmental groups and investors alike say the Securities and Exchange Commission has let oil and gas companies obscure how stricter greenhouse gas regulations and the changing climate could jeopardize their operations. Now, fossil fuel producers worry that a Democratic president would require them to make damaging revelations that would spook investors.
Presidential hopefuls like former Vice President Joe Biden, Massachusetts Sen. Elizabeth Warren, Washington state Gov. Jay Inslee and former Texas Rep. Beto O’Rourke are all proposing plans to strengthen the SEC’s climate-related disclosure requirements. And other Democrats said it’s about time for the SEC’s regulators to take climate change more seriously. Read Full Article - Poltico, June 17, 2019