May 26, 2021
As an investor, I am concerned that these disclosures will present an additional burden on companies that seek to go public. Specifically, I am concerned that the one-size-fits-all nature of these potential disclosures will disproportionately affect smaller companies. As Im sure the Commission is aware, the stock market is incredibly diverse, and applying the exact same set of standards to every company without considering their unique position would make it harder for companies to comply with disclosure rules and potentially affect their decision to go public. This in turn would limit their access to funds from everyday investors and, in my opinion, force them to be more reliant on large hedge funds and private capital. This would concentrate power in the hands of a few wealthy investors and make companies less accountable to the general public, which I am sure is not in line with President Bidens agenda.
Additionally, I am concerned that these new regulations could function as legislating climate policy without the approval of Congress (whether intentional or not) and hold public and private companies to different standards, in addition to those already set by Congress and the Environmental Protection Agency that apply to everyone.
In closing, I oppose the implementation of these new regulations and ask the Commission to reconsider adopting them. Thank you for the opportunity to share my concerns with you.