Highlighting Potential Harm to Female Entrepreneurs 

Washington, D.C. – Today, Independent Women’s Forum (IWF) submitted comments to the Securities and Exchange Commission in response to their proposed rule entitled “The Enhancement and Standardization of Climate-Related Disclosure for Investors.” 

IWF is concerned the SEC is being weaponized against politically disfavored industries and entrepreneurs, which will undercut innovation, harm shareholders, and damage the economy. At a time of high inflation, exorbitant gas prices, food shortages, and a looming recession, it is vital for the SEC to focus on actions that align with its statutory authority and mission to bring stability to the marketplace.

IWF explains in the submitted comments that:  

“Instead of fostering this growth, advancing existing technologies and cultivating new breakthroughs, the current administration has been erecting barriers. In particular, political officials have been using the power of the federal government to restrict the development of coal, oil and natural gas, which have become politically disfavored. Political commitments to extreme environmental groups and anti-development factions have driven much of the climate and energy decision making. Since January 2021, there have been canceled projects, layers of new red tape, moratoriums, bans and constant signals to the marketplace aimed at deterring investment in the very energy resources we rely on the most. The SEC proposed climate rule is the latest rendition whereby appointees are attempting to integrate activist-created metrics, referred to as environmental, social, and governance, or ESG, that puts fossil energy at a conspired disadvantage.” 

IWF also warns how the proposed rule will close more doors for female entrepreneurs: 

“Perhaps the most damaging outcome of the proposed rule is what will be lost. Not only will a climate disclosure rule hurt investors and companies, it will discourage entrepreneurs from starting new businesses. Adding in additional climate reporting requirements will increase startup costs and raise even more barriers to creative Americans looking to develop innovative ways to solve the problems of today.”

The SEC proposal creates a range of undue burdens on businesses, lacks a plausible statutory justification and will harm investors. It represents the wrong approach to growing the economy and improving the environment. Accordingly, IWF urged the SEC to set aside the proposed rule and instead issue an immediate withdrawal. Read the full comments here


Independent Women’s Forum is an educational 501(c)(3) dedicated to developing and advancing policies that aren’t just well intended, but actually enhance freedom, opportunities, and well-being.