The National Center for Energy Analytics (NCEA) has released a scathing report criticizing the Securities and Exchange Commission’s (SEC) proposed climate rules. The report, authored by NCEA Advisor Paul H. Tice, argues that the rules will have a devastating impact on the U.S. financial market.
According to the report, the SEC’s proposed rules will impose significant new regulatory burdens on businesses, leading to increased costs and complexity. Additionally, Tice argues that the rules will force the U.S. to become more reliant on foreign energy sources, particularly as developing countries continue to increase their reliance on fossil fuels for economic growth.
The report also highlights concerns about the impact on market stability. Tice predicts that the rules will create a more volatile and risky financial landscape, with potential consequences for investors and the overall economy.
The report is highly critical of the SEC’s approach, claiming that the agency is overstepping its mandate. Tice argues that climate policy is the purview of Congress, not the SEC, and that the agency’s proposed rules represent an undemocratic overreach.
The report, titled “The SEC’s Climate Plan Will Wreak Havoc on U.S. Financial Markets,” is available for download on the NCEA website.
The NCEA, a think tank focused on energy analytics, believes that policymakers must carefully consider the potential economic and financial consequences of the SEC’s proposed rules before they are implemented.
The report has sparked a debate about the role of the SEC in addressing climate change and the potential impact of regulations on the financial markets. It remains to be seen whether the SEC will proceed with the proposed rules or make adjustments based on the concerns raised by the NCEA.
