Regulators knew they were facing a political hornet’s nest when they launched a plan that would force businesses to disclose their carbon emissions and other climate data.
The fight has been just as bitter among companies. They are split between businesses that believe climate disclosure can boost profits and those that see it as costly, complicated and useless, a Wall Street Journal analysis of hundreds of comment letters on the proposed rules shows.
The dividing lines are often surprising, with companies staking out opposing positions from their competitors and businesses sometimes at odds with their trade groups, the analysis shows. A gusher of cash pouring into climate-related industries has further scrambled the dynamic.
Businesses typically unite against new regulations. They are split on almost all aspects of these rules, which are expected to be finalized by the Securities and Exchange Commission in the coming months.
It puts the SEC in the uncomfortable position of facing an almost certain barrage of corporate criticism and potential lawsuits from businesses and governments. Read the full story (subscription).