whatyareckon

By Patrick Tyrrell~

The Biden Securities and Exchange Commission has proposed requiring publicly traded companies to not only calculate and report their own greenhouse gas emissions but those of their suppliers, customers, and logistics operators.

The proposal could conceivably cover almost every company in America—even those that aren’t publicly traded and don’t fall under the SEC’s purview—adding enormous compliance costs and legal fees to their bottom lines.

The Biden administration has proposed requiring companies to not only calculate and report their own greenhouse gas emissions but those of their suppliers and customers, conceivably covering almost every company in America. (Photo: Bill Clark, CQ Roll Call/Getty Images)

In anticipation of the new 506-page rule, proposed by SEC Chairman Gary Gensler, accounting firms have been hiring thousands of new employees to prepare for the coming onslaught of climate change financial paperwork by public companies.

The proposed rule will be open for…