Trump announces pick for next SEC chairman (2024)
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President-elect Donald Trump (R) announced last week that he will nominate Paul Atkins as the next Securities and Exchange Commission (SEC) chairman.
Atkins’ views on ESG differ from those of current SEC Chairman Gary Gensler. For example, Atkins wrote a letter opposing the SEC’s 2022 proposed climate disclosure rules, arguing they overstepped the agency's delegated authority.
SEC Chairman Gary Gensler previously announced Nov. 21 that he will leave his position effective Jan. 20, 2025, at the end of Joe Biden’s (D) presidency.
According to ESGDive:
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Atkins has also offered differing views from Gensler on climate-related disclosures. When the Gensler-led agency first proposed the climate-risk disclosure rule in March 2022, Atkins — along with other former SEC commissioners and chairmen — penned a comment letter to the agency in June of that year. Atkins and the fellow former commissioners said the proposal 'oversteps the Commission’s congressionally delegated regulatory authority.' The letter’s signatories also added that the 'Commission’s rulemaking powers simply do not authorize it to require disclosure of the vast quantities of immaterial information' as described in the proposal. … [Michael] Posner [director of the Center of Business and Human Rights at New York University’s Stern School of Business] told ESG Dive that the new SEC administration may also roll back to the notion that 'ESG considerations are not material and should not be part of decision-making,' when defining fiduciary duty. He added that the Atkins-led agency would likely have a 'light footprint' and operate as a 'laissez-faire administration' when it comes to regulating the industry.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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