The SEC wants to force publicly traded businesses to predict how climate change might harm their businesses and how they might be a cause of global warming themselves. They proposed rules for such on Monday, 21 March 2022.
Few companies are themselves expert in predicting the future climate or future weather. They are being asked to use the available scientific knowledge about future climate and future weather. They also have to use this available scientific knowledge about the role that emissions of infrared-absorbing gases, commonly called greenhouse gases, will have on these future climate and weather conditions. What is more, they are to be forced to predict how governments in the USA will limit and condition their operations based on fears of climate change. Still worse, they are to be forced to make predictions of how people and nations around the world will respond to fears of climate change.
All of these requirements are proposed within a framework of censored science and of poor science with a very wide range of predictions, most of which predict much larger effects due to infrared-absorbing gases then have actually been observed. For instance, temperature increases and the frequency of bad weather events have consistently failed to live up to the predictions of the greenhouse gas climate scare-mongers. How can a company predict what the effect of global warming and increased bad weather events will be on its operations when the published, rubbish science cannot predict what the relation between infrared-absorbing gas emissions and subsequent warming and nasty weather events will be? The reality, which the Democrats who have proposed these SEC rules ignore, is that increased infrared-absorbing gases in the atmosphere has a very, very small effect in causing additional warming. The requirement, however, will be that companies will have to make their predictions based on exaggerated warming and bad weather events in line with the climate scare-mongers.
The climate fright-masters will no doubt also require that companies make these exaggerated effect predictions based on exaggerated negative effects upon their own business. These predictions will also have to be based on some exaggerated overall effects upon the US economy and on the world economy. They will also assume that many nations will long continue to raise the atmospheric greenhouse gas concentrations due to lax regulations limiting their emissions. Exaggerated individual company effects will justify further exaggerations of the general negative effects upon the US and the world economies.
The effort for a company to perform these predictions honestly would be tremendous. Honest predictions have nothing to do with the purpose of the proposed SEC regulations, however. Formulas will be adopted for this purpose, which the publicly traded companies will be forced to adhere to.
So why is this being done? The reason is that every publicly traded company is to be made to appear to believe in catastrophic man-made global warming and to take it seriously. This in turn is to rachet up the fear that Americans have of catastrophic man-made global warming. The self-reporting of company activities that might be affected by bad and warming weather and of company gas emissions will also give the government further information it can twist into a story of future disaster. That disaster story will then allow even more regulation of businesses, no doubt expanding far beyond those that are publicly traded.
Catastrophic man-made global warming due to adding infrared-absorbing gases to the atmosphere given its present composition is a failed hypothesis. For Democrats and some Republicans, this is not a reason not to use the fear of it to justify ever-increasing governmental controls over our lives. Governmental controls are always resisted by the people, unless they are afraid of something. Catastrophic man-made global warming is another such fear-creating tool. The claim that businesses generally want to do harm to people has long been such a tool and is still at play in this SEC proposed rule as well.