Stop Woke SEC “Social Credit Score” Rule
Alert Summary
The Securities and Exchange Commission (SEC) has proposed a radical new rule implementing a leftist “Environmental, Social, and Governance” (ESG) agenda and paving the way for a federally-enforced “social credit score.”
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The Securities and Exchange Commission (SEC) — one of the hundreds of federal agencies — has proposed a radical new rule implementing a woke, leftist “Environmental, Social, and Governance” (ESG) agenda and paving the way for a federally-enforced “social credit score.”
In March, the SEC proposed a major rule that would require public companies to disclose their carbon emissions, along with the emissions of their customers and suppliers. The agency is currently accepting public comments regarding the proposal, as required under federal law. The comment period ends Friday, June 17.
The SEC’s rule is dangerous. Most prominently, by pursuing this rule, the U.S. federal government is implementing ESG — essentially a “social credit score” for corporations pressuring them to adopt uber-woke policies. ESG-pushing companies like BlackRock have successfully pushed many corporations far to the Left. If the federal government adopts the same policies, this pressure will only intensify — and multiple other federal agencies are considering similar policies.
Furthermore, in their attempt to comply with the (costly and burdensome) rule while maintaining a high “score,” companies might impose their own social credit scores on consumers. This could result in average Americans being denied services because they haven’t adopted a Great-Reset-compliant lifestyle.
More broadly, the SEC’s rule is a sneaky way to help end the use of oil and gas while implementing radical green-new-deal environmentalist policies. Unable to implement its collectivist agenda via legislation, the Left is pursuing regulatory workarounds.
Last, but certainly not least, the SEC — or the federal government for that matter — does not have authority to regulate business, including for climate-change-related reasons. Its rule is illegal and unconstitutional.
Contact the SEC, point out the many problems with its ESG rule, and urge it to abandon this dangerous and extreme proposal.
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