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State Financial Officers Criticize ESG Disclosure Rule in Letter

June 17, 2022, 8:29 PM

The State Financial Officers Foundation sent a letter to the Securities and Exchange Commission on Friday criticizing a proposed ESG rule that would mandate climate-related disclosures for public companies, according to a press release.

  • 23 financial officers, all Republicans, from across the US signed the letter
  • “This proposed rule is the Biden administration’s attempt to take power from the states by circumventing the democratic process and legislating through SEC regulations,” said John Murante, Nebraska’s treasurer and the foundation’s chairman
  • The group highlighted eight concerns with the proposed rule including “extreme” cost to issuers.
    • The group said the rule lies ...