Kentucky attorney general, Daniel Cameron, has signed on to join 15 other states in a coalition June 15th, 2021. This coalition is filing an official statement to be presented in front before the U.S. Securities and Exchange Commission (SEC). Apparently, the Biden administration has a proposal on the table that will require public trading companies to disclose climate change and environmental impact reports. Daniel Cameron, and attorney generals from 15 other states publicly oppose Biden’s public trading disclosure proposal.
Why Attorneys Generals Are Against Climate Disclosures
According to the attorney generals, “the Commission has an important and difficult mandate with respect to safeguarding public trading, but it is hard to see how it can legally, constitutionally, and reasonably assume a leading role when it comes to climate change”. In other words, the attorney generals believe that mandating disclosures is beyond the Commission’s authority altogether.
Some parties believe that compelling climate change disclosures will put unnecessary pressure on certain companies. Further, parties that oppose the Biden administration’s disclosure proposal believe that the climate change is out of the SEC’s authority and that the government is overreaching. The public demand for information companies’ public trading does cast additional onus on public trading companies, who are already responsible for responding to investor’s concerns interest regarding the global climate crisis.
States Against Climate Change Disclosures
Attorney general Daniel Cameron has enjoined with the attorneys general of Alaska, Arizona, Arkansas, Kansas, Louisiana, Mississippi, Missouri, Montana, Nebraska, Ohio, Oklahoma, South Carolina, Utah, and Wyoming. The SEC letter comes after Cameron filed an amicus brief to the United States Supreme Court in June, which urges court justices to support West-Virginian officials in a case filed against the Environmental Protection Agency (EPA).