West Virginia Democratic Sen. Joe Manchin is going to vote with Republicans again, giving the far-left agenda another fail. He will oppose a proposed rule by the Securities and Exchange Commission that would compel companies to disclose climate-related risks.
“In that sense, one could argue that the proposed rule aims to solve a problem that does not exist,” Manchin said. “Further, to suggest that any and all public companies have the resources and capabilities to capture this data is shortsighted.”
“Forcing this rule on companies has the potential to not only impose undue financial hardships but also to erode public trust, especially if less-resourced companies are unable to accurately report this data,” he added.
“Not only will these companies face heightened reporting requirements on account of their operations, but they will also be subjected to additional scrutiny for the Scope 3 emission disclosures of other companies that utilize their services and products,” Manchin added.
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“The West Virginia Democrat expressed his opposition to the plan in a Monday letter to SEC Chairman Gary Gensler. He told Gensler that the rule, which creates guidelines for how and what companies must report to investors about the emissions their companies are responsible for, might not be needed given that the overwhelming majority of major corporations already file sustainability reports that include information about climate risks,” the Washington Examiner reported.
The rule is only intended to kill off the fossil fuel companies and bring us into the world of the ESG.
West Virginia is the nation’s fifth-largest energy producer, with plentiful fossil energy and renewable resources. Senator Manchin isn’t about to sacrifice his state to the ideological gibberish of the hard left.
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