How Republicans Are ‘Weaponizing’ Public Office Against Climate Action
Like Ms. Omarova, Ms. Raskin withdrew her nomination. “Sarah has been subject to unwarranted attacks from industry and conservative advocacy groups,” Biden said in a statement.
The treasurers have also set their sights on new federal rules and regulations designed to strengthen the government’s ability to act on climate change.
Late last year, the State Financial Officers Foundation teamed up with the Heritage Foundation to respond to proposals from the Financial Stability Oversight Council, a government panel tasked with minimizing risk in the financial sector, on ways to mitigate climate change threats. , according to data. .
And shortly after, Utah’s treasurer, Mr. Oaks, drafted a letter opposing a potential Department of Labor rule that would allow retirement plans to factor global warming risks into their investment strategy. . Mr. Kreifels distributed the draft to the members of the foundation, and more than a dozen treasurers signed it last letter. The Ministry of Labor has not yet decided whether the rule will be applied.
This year, the treasurers focused on the Office of the Comptroller of the Currency. After the agency proposed a rule requiring banks to consider climate-related financial risks, Heritage Foundation executives sent Mr. Kreifels and Mr. Oaks a memo outlining their opposition. Within weeks, dozens of state treasurers and attorneys general from Republican-led states filed: comments object to the proposed scheme.
“This special concern and focus on climate-related risks is irrational,” one comment read.
And in May, Mr. Kreifels organized a call with the treasurers to discuss proposed regulations by the Securities and Exchange Commission that would require companies to publicly disclose climate risks to investors. The featured guest was a representative of the American Petroleum Institute, the lobbying arm of the fossil fuel industry.
The following month, the State Financial Officers Foundation sent out a 20-page letter signed by more than a dozen treasurers, calling the SEC’s proposed rule, which has yet to be passed, “an irrational climate exception, putting climate issues at the forefront of disclosures they don’t deserve.”