Scalise Releases Statement on the SEC's Climate Rule

WASHINGTON, D.C.— Today, House Majority Leader Steve Scalise (R-La.) released the following statement on the SEC's Climate Disclosure Rule:

"Today, the SEC announced that it has allowed radical climate activists to hijack our capital markets. Unable to push their unpopular agenda through Congress, these leftists have found a willing partner in SEC Chairman Gary Gensler.

"Despite no clear Congressional authorization, the SEC has announced its intention to become a climate regulator with this rulemaking. Instead of protecting investors and promoting our capital markets, the SEC will use its disclosure regime to endorse the latest preferences of radical ESG activists. The winners in all of this will be the lawyers, accountants, and climate consultants who will now be able to charge our public companies huge fees to comply with this new rulemaking. Meanwhile, average investors saving for retirement will be left footing the bill.

"Our capital markets are the envy of the world and a driver of our economic prosperity. We cannot sit by idly as radical activists attempt to transform them into tools for their ill-advised social agenda. Congress will act to protect our economic prosperity and energy security by overturning this rule."