Already in progress: Backdoor ‘work arounds’ to force New Green Deal Regulations (I'll wager that there are others which have been implemented in regulations):
The Securities and Exchange Commission is poised to unleash rules mandating that public companies tell their shareholders and the federal government how they affect the climate
Under the proposed rules, publicly traded companies will be required to explain in their regular disclosures to investors how certain climate-related risks can affect their finances. Potential risks include the rising frequency of severe weather, the potential costs of shifting away from fossil fuels and a company’s own efforts to limit its carbon footprint. Companies will be required to calculate these potential costs from data they already compile for regular disclosures to investors.
Companies will also be required to disclose their “Scope 1” emissions — the amount of greenhouse gas emissions they directly produce through their own business operations, such as manufacturing or mining — along with their “Scope 2” emissions, which come from the energy they purchase to keep their business running.
Companies would also be required to report their “Scope 3” greenhouse gas emissions, which include emissions from the goods and services purchased by the firm, if they have set public emissions reduction targets or if those emissions pose a direct financial risk to the business. Firms required to report Scope 3 emissions, however, will not face penalties if they come forward with mistakes or miscalculations in those figures.
The cost of compliance will be enormous and have a bearing on the price of purchasing goods. The hours, resources, and energy required to complete these forms will be staggering and hinder companies from transitioning to being publicly-traded entities.
But then again, there are other stock exchanges
in the world. I am sure India might be open to companies conducting trades on its exchange without this flaming regulatory hoop.
SEC has just polluted America’s business environment.
SEC has just polluted America's business environment.
A Chinese like ‘social credit system
’ based on these ‘Scope 1’, ‘Scope 2’ and ‘Scope 3’ emission disclosures?
The new totalitarianism, regulate business to death, and if the business fails, it’s their fault.
What business is it of the SEC to be regulating emissions?
What’s the point of a Green New Deal when it destroys your economy and the standard of living for the majority of your people?
Turing back the millions which have been lifted out of abject poverty by capitalism, condemning them back to poverty?