Washington, DC – Today, American Exploration & Production Council CEO Anne Bradbury issued the following statement after the Securities and Exchange Commission (SEC) issued its final rule to require climate-related disclosures:
“The SEC should stick to its stated mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation – rather than mandate overly burdensome disclosures that will impede progress the business community has made and continues to make in providing climate-related information to investors.
“While AXPC is still reviewing the SEC’s rule and sees some improvements, we remain skeptical as to the benefit of its mandated disclosures, including concerns about its feasibility, reasonable comparability, appropriate timelines, as well as considerations regarding cost and impacts to the energy industry.”
Background:
- Climate-related material information for investor decision-making is already required by law, and duplicative, prescriptive mandates from the SEC are unnecessary and unnecessarily burdensome.
- To read AXPC’s 2022 comment letter on the then-proposed SEC rule, click HERE.
About AXPC
The American Exploration & Production Council is the national trade association that represents the leading independent oil and natural gas exploration and production companies in the United States. Our member companies represent 50 percent of the nation’s oil production and more than 50 percent of its natural gas production.