It never stops:

The SEC has been pressured to address the interpretation of its rules relating to climate change since 2007, when a coalition of state governments, institutional investors, and environmental groups petitioned the regulator to issue guidance on disclosing climate risk. Investors gained more traction on the issue when Mary Schapiro took over as SEC chairman a year ago, says Jim Coburn, senior manager of investor programs for environmental-advocacy group Ceres. “The new SEC leadership has been very interested in protecting investors and giving them better information,” he says.

Only 17% of companies made any reference to climate change or greenhouse-gas emissions in their annual report filed in 2009, according to a review of about 400 companies by law firm McGuireWoods. To be sure, not every company has material climate-change risk to disclose.

I don’t suppose all these climate-change disclosure advocates ever considered the possibility that corporations know what they are doing. What is the real risk to these corporations that needs disclosing: catastrophic climate change or governments doing something stupid to address it?

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