WASHINGTON, D.C. — Today, Independent Women’s Forum (IWF) Center for Energy and Conservation (CEC) issued a statement on the finalized Securities and Exchange Commission (SEC)’s climate disclosure rule.

CEC Director Gabriella (Gabby) Hoffman said, “While the Securities and Exchange Commission (SEC) watered down its original rule mandating indirect Scope 3 (upstream or downstream) emissions reporting for publicly-traded companies, the agency isn’t abandoning its misguided commitment to the Environmental, Social, and Governance (ESG) movement . The SEC knows ESG investing practices are unpopular, hence the delayed roll-out of the rule two years later.  Nevertheless, our Center is greatly concerned about SEC regulating non-financial goals like ESG that fall out of its purview.”

“Mandating ESG reporting will not only discourage investment in coal, oil, and gas businesses, but also deter entrepreneurs from starting energy or agribusinesses with added start-up costs that will result here. Because ESG investing prioritizes non-financial goals, this rule will invite companies to inflate their environmental performance by purchasing good ESG scores,” Gabby added. 

The CEC’s mission is to reshape the conversation about American energy and conservation, to educate the public about the benefits of modern energy, including thriving economies and healthy communities, and to level-set fear-based rhetoric surrounding the climate and cultivate meaningful policies that lead to cleaner air, cleaner water, and a lower-emissions future. Importantly, the center connects the role our modern energy industry has played in successful environmental outcomes and a better, more prosperous way of life.



Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended but actually enhance people’s freedom, choices, and opportunities. 


Advancing our energy potential, protecting the environment, and promoting healthy communities.