“The Climate Risk Disclosure Act”
If you want proof that Elizabeth Warren is planning to run for president in 2020, look no further than her actions.
She has been busy for months with tons of progressive busy work which is likely to go nowhere, but that’s not the point. She’ll likely use it to distinguish herself from the other 30 people vying for the Democratic nomination.
Her latest plan is to try to force public companies to disclose threats to the climate. We already have laws which protect the environment from pollution, so this is something different.
Francine McKenna reports at Market Watch:
Elizabeth Warren leads push by Democrats to force public companies make climate-risk disclosures
Elizabeth Warren of Massachusetts is spearheading an effort by Democratic senators to bring a bill that would require public companies to disclose more information about their exposure to climate-related risks.
The bill, called the Climate Risk Disclosure Act, would direct the SEC, in consultation with climate experts at other federal agencies, to issue rules within one year that require every public company to disclose:
• Direct and indirect greenhouse gas emissions
• All fossil-fuel related assets it owns or manages
• The effect on the company’s market valuation if climate change continues at its current pace or if greenhouse gas emissions were restricted in compliance with the Paris accord goal; and
• What strategies are in place to address the physical and transition risks posed by climate change.
Al Gore just loves the idea:
“Senator Warren is demonstrating strong leadership by introducing legislation to assess the financial risks of climate change and require that they be disclosed to the public. This is a critical step toward breaking our addiction to fossil fuels and accelerating the transition to a clean energy economy,” Gore wrote in a press release issued by Warren.
As I said, this isn’t likely to go anywhere. It’s progressive resume padding. She has already joined the left wing chorus calling for the abolishing of ICE and she is suddenly interested in being seen helping Native Americans.
This newest initiative is very similar to her recent attempt to inject social justice into corporate America.
My colleague Mary Chastain wrote about it last month:
Elizabeth Warren wants to weaponize and federalize corporations for social justice activism
Sen. Elizabeth Warren hates capitalism and has never made an effort to hide it. Now she’s taken that hatred a step further and introduced a bill (pdf.) that would literally nationalize all the things. The government must step in and tell CEOs how to run their companies.
Warren penned an op-ed in The Wall Street Journal about her “Accountable Capitalism Act” to sell it to the public. She gushes over how the bill would help workers and give more power to them.
That sounds familiar…*cough*VladimirLenin*cough*
In reality, the bill gives more power to the government because Warren’s bill tells a company EXACTLY how it should run. In other words, capitalism is accountable to the government, not the people or workers. Reason summed it up:
Warren’s “Accountable Capitalism Act” would require that corporations that earn more than $1 billion in revenue a year (note “revenue,” not “profits”) would need a federal “charter” in order to operate. This charter would obligate these companies to consider all “stakeholders,” not just shareholders, when making decisions. The bill would also require these corporations to permit employees to elect 40 percent of the company’s board of directors; a super majority of 75 percent of directors and shareholders would have to approve political donations. (Gee, I wonder if somebody will propose something similar for unions?) Shareholders would be permitted to sue the company if they felt its actions were driven purely by profit and did not reflect the desires of its many “stakeholders.”
You can already see her on a debate stage saying something like: Look at all the great things I’m trying to get done.DONATE
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