IPANM, Western Energy Alliance, & Industry Trade Associations (June 2022) – IPANM has joined a consortium of industry trade groups in arguing that the SEC is purposefully assuming an activist stance on an issue way outside its jurisdiction, and consequently, undermining its own role regulate Securities Exchanges in favor of blatant environmental activism. IPANM filed it’s letter to the SEC in June, and states that the suggestion on page 21362 of the SEC rule that, “…an energy company might discuss how, due to actual or potential regulatory constraints, it intends to take advantage of climate-related opportunities by…reducing its medium and long range fossil fuel exploration and production…” SEC is encouraging oil and natural gas companies to voluntarily reduce production, revenue, and returns to investors in order to meet voluntary greenhouse gas (GHG) reduction goals. Clearly SEC has gone far afield from its mission of capital formation to assuming an air quality role. The rule could not come at a worse time, as it is abundantly clear America needs to increase production of oil and natural gas to
reduce prices for Americans and our allies in Europe and across the globe.
IPANM’s Letter to the SEC Regarding the SEC Disclosure Rule
PREVIOUS UPDATE
(May 3, 2022) – This week, the Western Energy Alliance submitted a joint trades letter signed by a coalition of 36 trade and industry associations, including IPANM, asking for a full 180-day comment period for the SEC’s climate change disclosure rule. SEC has given the public just 39 days to weigh in, with a deadline of May 20th.
