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After receiving campaign cash from corporate polluters, more than 230 state and federal elected officials mobilized to stop the SEC’s proposed rule

For Immediate Release
Date: January 18, 2024

Washington, D.C. – Today, Unlocking America’s Future released a new report titled “Big Oil & Big Money: Exposing the Campaign to Stop the SEC’s Climate Disclosure Rule” shining a light on the oil and gas industry’s campaign to stop a proposed rule, which would require publicly traded companies to disclose information about direct and indirect greenhouse gas emissions. 

The report uncovers $155 million in oil and gas donations to politicians who hold sway over the outcome of the rule. It exposes the efforts of 230+ politicians acting on behalf of the oil and gas industry, including big earners Senator John Cornyn (R-TX), Representative Steve Scalise (R SC-01), Texas Governor Greg Abbott, and Representative Patrick McHenry (NC-10) who today is leading the latest of many politically motivated hearings on the rule. 

“Since the U.S. Securities and Exchange Commission issued its proposed climate disclosure ruling in March 2022, politicians who have received millions in campaign cash from the oil, gas, and other polluting industries have yielded their political power to preemptively limit or stop the ruling,” said Unlocking America’s Future spokesperson Kyle Herrig.“They are overtly attempting to misinform the American public about the benefits of corporate climate disclosures, obstruct the regulatory process, and force risky investments on to financial managers, investors, and America’s public pension system. This is all part of a broader, coordinated effort to attack responsible investing while enriching those at the helm of the oil and gas industries. It is damaging to our economy, environment, and America’s presence on the global stage – and simply out of step with the American public.”

Read the full report here