Large companies in Oklahoma and across the U.S. will have to tell investors about greenhouse gas emissions caused by their business under a controversial rule approved Wednesday by the U.S. Securities and Exchange Commission.
It’s a rule that was fought by Congressman Frank Lucas who feared it might be harmful for state farmers and called it another example of “an encroaching and overreaching Biden administration.”
Two years ago, he introduced the Protest Farmers from the SEC Act to ensure they would not fall under the rule.
Rep. Lucas, at the time, said they were an example of “burdensome regulations imposed by the irresponsible, nonsensical actions of the Biden Administration.”
The SEC voted 3-2 to adopt the new requirement. Democrats on the SEC,Chair Gary Gensler, Commissioner Caroline Crenshaw and Commissioner Jaime Lizárraga voted for it while Republican Commissioners Hester Peirce and Mark Uyeda were against the rules.
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