The Securities and Exchange Commission (SEC) has proposed a new rule requiring companies to disclose their climate-related risk, strategy, and greenhouse gas emissions, including indirect emissions from their value chain. The public comment period on that proposed rule, “The Enhancement and Standardization of Climate-Related Disclosures for Investors,” is open until May 20, 2022. While the SEC claims that the current proposal is well within its purview, many critics have raised concerns about whether the agency does, in fact, possess the statutory authority to implement such a disclosure regime. If adopted, it would be the commission’s most significant rulemaking of the current administration, threatening to triple the costs of running a public company. There are also serious questions about the legal basis for climate-related policymaking at other federal agencies, including the Federal Reserve.
Please join CEI for an online discussion of the SEC’s statutory authority and the Biden administration’s “all of government” approach to climate finance.
David R. Burton, Senior Fellow, Heritage Foundation
Richard Morrison, Senior Fellow, Competitive Enterprise Institute
Christina Parajon Skinner, Assistant Professor of Legal Studies and Business Ethics, Wharton School
Andrew Vollmer, Senior Affiliated Scholar, Mercatus Center
Monday, May 16, 2022
12:00 – 1:00 pm EDT
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David R. Burton focuses on tax matters, securities law, entrepreneurship, financial privacy and regulatory and administrative law issues as The Heritage Foundation’s senior fellow in economic policy. Previously, he was general counsel at the National Small Business Association, chief financial officer and general counsel of the start-up Alliance for Retirement Prosperity, a partner in the Argus Group, vice president for finance and general counsel of New England Machinery, and manager of the U.S. Chamber of Commerce’s Tax Policy Center.
Richard Morrison is a senior fellow at the Competitive Enterprise Institute, where his work focuses on the relationship between economic and political freedom. He was previously a senior editor at CEI and managing editor of the blog OpenMarket. He also served as program manager of CEI’s Center for Advancing Capitalism, where he coordinated outreach to the business community, universities, and other stakeholders.
Christina Parajon Skinner is an expert on financial regulation and assistant professor of legal studies and business ethics at the Wharton School. Her research focuses on central banking, the financial markets, separation-of-powers, corporate governance, and law and macroeconomics. Prior to joining the faculty at Wharton, she served as legal counsel at the Bank of England, in the Financial Stability Division of the Bank’s Legal Directorate. Previously, Professor Skinner was an Academic Visitor at the University of Oxford, Faculty of Law and a Visiting Fellow at the London School of Economics, Law Department.
Andrew Vollmer is a senior affiliated scholar with the Mercatus Center at George Mason University. From 2014 to 2019, he taught securities regulation and was the Director of the John W. Glynn, Jr. Law and Business Program at the University of Virginia School of Law. For many years, Vollmer was a partner in the securities litigation and enforcement practice of Wilmer Cutler Pickering Hale and Dorr LLP. Vollmer served as deputy general counsel at the Securities and Exchange Commission from 2006 to 2009. In that role he advised the SEC on enforcement proceedings, rule-makings, appellate briefs, and adjudications.