Summary: <p>With Democrat appointees at the helm and the Biden administration’s encouragement, the supposedly independent U.S. Securities and Exchange Commission (SEC) has gone full-on woke on climate change.</p> <p>Stepping well outside its legal mission to protect investors from fraud and the markets from insider trading and manipulation, the SEC has decided it knows what the managers of publicly traded companies, portfolio and fund managers, and investors should care about. Forget about making profits for companies and their shareholder-owners, a company’s financial condition and prospects based on business and market measures, or providing a secure, comfortable retirement for pensioners. According to the SEC, all of that should take a back seat to fighting climate change.</p>
