From Kevin Mooney in Daily Caller:

In a setback for former government officials and attorneys poised to cash in on proposed climate disclosure rules, the Securities and Exchange Commission continued to kick the ball down the road last year.

Many of the objections raised in public comments revolve around so-called Scope 3 emissions that are not directly produced by companies and instead result from what occurs “upstream” and “downstream” of a company’s activities. That’s a problem because if the SEC rule is finalized the commission would effectively extend its jurisdiction to include private companies that transact business with public firms registered with the SEC.

There’s a strong case to be made that under this scenario the commission would be overstepping its authority, which would help to explain why the SEC has continuously slow-walked its proposal. …

The SEC’s actions can be viewed as just one small part of President Biden’s “whole-of-government effort” to push climate initiatives at the expense of taxpayers and energy producers.

Companies in the energy-intensive states, such as Pennsylvania, will likely feel a greater financial burden, explained Gordon Tomb, a senior fellow with Commonwealth Foundation, a free market think tank headquartered in Harrisburg, explained.

“Pennsylvania is the second largest net supplier of energy to other states and the largest exporter of electricity to other states,” Tomb said. “As such, private companies supporting enterprises that emit carbon dioxide in the production of energy number at least in the hundreds and their employees in the many thousands. Imposing costs artificially constructed to advance a quasi-religious climate ideology and create ways for the politically connected to make money without producing a benefit is viciously economically destructive.”

The complete article can be accessed here.