WYOMING – Gov. Mark Gordon and 16 other governors formed a coalition to pen a letter to President Joe Biden, urging the rejection of a rule that would penalize companies for not meeting renewable energy standards.
The letter addressed to President Biden and Gary Gensler, U.S. Securities and Exchange Commission chair, to oppose a requirement that publicly traded companies make detailed disclosures about climate-change risks and greenhouse gas emissions. Those governors, all Republicans, viewed the rule as prejudicial to business and investors by increasing compliance costs, necessitating speculation and disclosing information the federal government is “not fit to judge.”
Gordon said this rule is the latest example of government overreach.
“While energy prices are skyrocketing, the Biden Administration continues to use its powers to suppress free markets and discourage oil and gas investment, rather than cultivating market solutions to climate concerns,” he said. “We should reject this action to further burden our domestic energy industry.”
Specifically, the letter pertains to a rule proposed on March 21 to compel publicly traded companies to make detailed disclosures about climate-change risks and greenhouse gas emissions. The governors felt that would harm business.