Texas Energy Leader Pens Letter to Biden’s SEC Opposing Climate Disclosure Rules
July 06, 2022AUSTIN – Today, Railroad Commission of Texas Chairman Wayne Christian sent a letter to the U.S. Securities and Exchange Commission regarding proposed new rules requiring companies to disclose greenhouse gas emissions, detailed climate-related data and additional “climate risks.”
“As I have stated before, radical environmentalists are coming for your retirement account through Environmental, Social, and Governance (ESG) investing,” said Chairman Christian. “This new ‘woke’ investment strategy places a priority on subjective environmental and social metrics instead of financial metrics that ensure quality returns for investors.”
“This climate disclosure proposal is a federal overreach that will further cloud energy investments, shutter small businesses, and cement the values of fringe environmental extremists into our society and government,” continued Christian. “As a licensed Investment Advisor Representative, I have grave concerns about the impact this will have on families, retirees and oil and gas businesses, as well as the cost of energy paid by consumers.”
You can read the letter here.
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit https://www.rrc.texas.gov/about-us/.