Security and Exchange Commission chairman Gary Gensler has been on a tear in the last weeks, as the SEC—intended by FDR to rein in the forces of global finance, but now subservient to them—prepares to do UN Special Envoy for Climate Action and Finance Mark Carney’s bidding, by making exposure and of corporate environmental, social and corporate governance (ESG) ratings a mandatory requirement for all businesses in the U.S. ESG ratings (primarily carbon emissions, at least for now) are to be the bedrock of the coming “carbon market,” where the nonsensical numbers will form the basis for determining the “value” of a company in this new, hyperinflationary Ponzi scheme. Here, Gensler is operating “above his pay grade,” because ESGs don’t directly affect a company’s “bottom line,” and are therefore technically not the purview of the SEC.
On July 25, Gensler spoke at a webinar sponsored by Principles for Responsible Investment, titled “Climate and Global Financial Markets,” where he said: “Investors are looking for consistent, comparable, and decision-useful disclosures so they can put their money in companies that fit their needs. Companies and investors alike would benefit from clear rules of the road.”
As evidence, Gensler (who headed the speculative cesspool Commodity Futures Trading Commission under Obama) said that, in March, the SEC had opened a comment line for input from the public on climate change disclosures, and (surprise, surprise) most of the comments were supporting of this call. “More than 550 unique comment letters were submitted in response,” Gensler said, with “three out of every four of these responses support mandatory climate disclosure rules.”
Gensler’s comments were immediately covered by CNBC, and later by the Wall Street Journal, in a July 28 article titled, “SEC Weighs Making Companies Liable for Climate Disclosures.” which quoted Gensler saying: “Investors today are asking for that ability to compare companies with each other. Generally, I believe it’s with mandatory disclosures that investors can benefit from that consistency and comparability.”