Refiners protest SEC's move into climate policy

[Geee]

Washington Examiner:

Oil refiners are protesting the Securities and Exchange Commission's proposal to make climate change a core piece of fossil fuel companies' financial disclosures, arguing that it would unravel 80 years of precedent and threaten market stability.

 

The SEC proposed the changes to its standard S-K regulation by considering new requirements that would direct companies to disclose all information on environmental and social matters, including information related to climate change.

 

The lead trade association for the refiners, the American Fuel and Petrochemical Manufacturers, sent comments on the proposal late Thursday detailing its reservations with the policy and advising the commission not to move forward.