Posey Leads The Way Against New SEC Climate Change Disclosure Requirements

by Christopher Guzman

02/24/2010

Rep. Bill Posey (R-Fla.) has asked fellow congressmen to join him in urging the Securities and Exchange Commission (SEC) to repeal a newly approved climate change disclosure requirement.

“We are writing to express our displeasure with your recent vote to impose disclosure requirements on public companies’ business practices, as they relate to the issue of ‘climate change,’’ said Posey’s letter to Hon. Mary L. Schapiro, chairman of the SEC.

It called into question the commission’s legitimate authority in approving the requirement.

One of the primary concerns is that the commission is implementing it “without the consideration of Congress or even the normal rule-making process.â€