{"id":1432200,"date":"2022-04-12T07:45:11","date_gmt":"2022-04-12T11:45:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1432200"},"modified":"2022-04-12T07:45:25","modified_gmt":"2022-04-12T11:45:25","slug":"exclusive-gop-calls-out-bidens-attempt-to-impose-a-green-new-deal-through-wall-street-regulation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-gop-calls-out-bidens-attempt-to-impose-a-green-new-deal-through-wall-street-regulation\/","title":{"rendered":"EXCLUSIVE: GOP Calls Out Biden\u2019s Attempt To Impose A \u2018Green New Deal\u2019 Through Wall Street Regulation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-gop-calls-out-bidens-attempt-to-impose-a-green-new-deal-through-wall-street-regulation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1432200&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><ul>\n<li><strong> House Oversight Subcommittee on Environment Ranking Member Ralph Norman led a letter to the Securities and Exchange Commission (SEC) Monday, saying the Democratic-majority agency should table a recent climate disclosure rule.<\/strong><\/li>\n<li><strong>\u201cThe SEC\u2019s proposed climate rule is bad for business, bad for investors, and is nothing more than climate activism cloaked in additional red tape,\u201d Norman told the Daily Caller News Foundation. \u201cIt\u2019s time for the Left to stop trying to shame companies into combatting climate change.\u201d<\/strong><\/li>\n<li><strong>The SEC proposed the rule, which would implement a series of climate-related disclosure requirements for private sector companies, in March.<\/strong><\/li>\n<\/ul>\n<p>A group of 40 House Republicans sent a letter to the Securities and Exchange Commission (SEC) Monday, urging the agency to rescind a regulatory proposal forcing companies to disclose \u201cclimate-related risks.\u201d<\/p>\n<p>The Republicans, led by House Oversight Subcommittee on Environment Ranking Member Ralph Norman, slammed the financial regulator, saying it exceeded its congressionally-mandated authority in <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-46?utm_medium=email&#038;utm_source=govdelivery\" target=\"_blank\" rel=\"noopener noreferrer\">issuing the climate rule<\/a>, in the letter obtained exclusively by the Daily Caller News Foundation. The lawmakers added that the rule was especially inappropriate given the ongoing energy crisis.<\/p>\n<p>\u201cThe SEC\u2019s proposed climate rule is bad for business, bad for investors, and is nothing more than climate activism cloaked in additional red tape,\u201d Norman told the DCNF. \u201cIt\u2019s time for the Left to stop trying to shame companies into combatting climate change.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2022\/03\/23\/sustainable-investing-esg-democrats-climate-change\/\">(RELATED: Democrats Look To Sustainable Investing Craze As Means For Pushing Climate Agenda)<\/a><\/strong><\/p>\n<p>\u201cI\u2019ll tell you how we effectively combat climate change: We utilize an all-of-the-above energy strategy that reduces costs, eliminates dependence on imports from foreign nations, and paves the way for the transition to renewables,\u201d he added. \u201cMore regulations on private citizens and businesses is not, and never will be, the answer.\u201d<\/p>\n<p>The Democratic-majority SEC, the nation\u2019s top financial regulator, <a href=\"https:\/\/dailycaller.com\/2022\/03\/21\/securities-and-exchange-commission-gary-gensler-joe-biden-climate-change\/\">unveiled<\/a> the sweeping rule in March, which would require private sector companies to publicly report their annual greenhouse gas emissions and impact on climate change. The rule also <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-46?utm_medium=email&#038;utm_source=govdelivery\" target=\"_blank\" rel=\"noopener noreferrer\">forces<\/a> companies to disclose information about their indirect emissions from purchased electricity or other forms of energy, giving the public a broad scope of their greenhouse gas profile.<\/p>\n<p>Companies would further have to issue a \u201cclimate-related risk management strategy,\u201d laying out how they plan to decrease climate impacts.<\/p>\n<p>\u201cThe SEC should not and cannot mandate such public disclosures of information that strays from the \u2018core purpose of disclosure, [which] is to provide investors with the information they need to make informed investment and voting decisions,\u2019 which \u2018allow[s] our capital markets to flourish,&#8217;\u201d Norman and the other Republicans wrote to SEC official Vanessa Countryman in the letter.<\/p>\n<div id=\"attachment_7406716\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-7406716\" class=\"wp-caption-text\">Gary Gensler, chair of the Securities and Exchange Commission, testifies during a Senate Banking Committee hearing on Sept. 14. (Evelyn Hockstein\/Pool\/Getty Images)<\/p>\n<\/div>\n<p>North Carolina Rep. Ted Budd, a member of the House Financial Services Committee and a signatory on the letter, said the SEC rule was a \u201cblatant regulatory overreach by unelected bureaucrats.\u201d<\/p>\n<p>\u201cThe SEC should immediately terminate this thinly-veiled attempt to impose Green New Deal mandates onto private sector job creators,\u201d he said in a statement.<\/p>\n<p>The rule involves a total of a dozen climate-related requirements for companies, <a href=\"https:\/\/www.sec.gov\/files\/33-11042-fact-sheet.pdf\">according<\/a> to the SEC. If approved, the rule would go into effect in 2024.<\/p>\n<p>\u201cThis proposal would drastically shake up the current disclosure regime,\u201d the lawmakers wrote. \u201cCurrent SEC disclosure mandates are intended to provide investors with insightful material information into a company\u2019s performance.\u201d<\/p>\n<p>\u201cUltimately, the SEC\u2019s actions would act to undermine and shame public companies, not to provide investors with necessary financial disclosures,\u201d they said.<\/p>\n<p>Meanwhile, the average cost of gasoline\u00a0<a href=\"https:\/\/dailycaller.com\/2022\/03\/07\/gasoline-prices-all-time-high-russia-white-house\/\">hit its highest level ever<\/a> in March\u00a0following Russia\u2019s <a href=\"https:\/\/dailycaller.com\/2022\/04\/08\/energy-crisis-rationing-environmentalists-russia-ukraine\/\">invasion<\/a> of Ukraine\u00a0and has remained above that level, <a href=\"https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\">according<\/a> to federal data. <strong><a href=\"https:\/\/dailycaller.com\/2022\/04\/11\/cnn-wall-street-sustainable-investing-energy-industry\/\">(RELATED: CNN Gives Climate Activists Platform To Pressure Banks To Divest From Fossil Fuels)<\/a><\/strong><\/p>\n<p>\u201cAt a time of global turmoil, when energy prices are at decade highs, how would this rule be beneficial to American citizens?\u201d the letter continued. \u201cSimply wrapping climate activism in financial regulation will only further exacerbate our current energy crisis and do nothing to help everyday Americans heat or cool their homes or lower prices at the gas pump.\u201d<\/p>\n<p>\u201cThis Administration must end its assault on American businesses and the rule of law in the name of an immediate and expensive transition to a \u2018Green New Deal\u2019 America,\u201d it concluded.<\/p>\n<p>Arkansas Rep. Bruce Westerman, the top Republican on the Natural Resources Committee, was also among the letter\u2019s 40 signatories.<\/p>\n<p>The SEC didn\u2019t immediately respond to a request for comment from the DCNF.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Oversight Subcommittee on Environment Ranking Member Ralph Norman led a letter to the Securities and Exchange Commission (SEC) Monday, saying the Democratic-majority agency should table a recent climate<\/p>\n","protected":false},"author":181,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1432200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1432200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1432200"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1432200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1432200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1432200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1432200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}