'Virtue Signaling of the Highest Order': Elizabeth Warren Criticized for Climate Change Bill
Sen. Elizabeth Warren (D-Mass.) is leading a push to compel companies to disclose more information about how their businesses impact and could be impacted by climate change.
On Friday, Warren introduced the Climate Risk Disclosure Act of 2018, which would mandate that publicly traded companies provide extensive climate-related information, such as greenhouse gas emissions, fossil fuel investments, and risk management strategies for things like rising sea levels and increased temperatures.
“Climate change is a real and present danger ― and it will have an enormous effect on the value of company assets,” Warren said in a statement.
"Climate change can be an economic opportunity if we act boldly and decisively. But if we don't, we will see a global catastrophe that will put the 2008 crisis to shame."
Not everyone, however, is a fan of Warren's legislation...
"This is virtue signaling of the highest order for her Democratic base, Marc Morano, the editor of ClimateDepot.com, said on "Fox & Friends" Wednesday.
He argued that Warren's bill would give the U.S. government and the Securities and Exchange Commission extensive power to go after companies and "shake them down."
"They're going to use these disclosures now -- and they're going to [be] the size of the phone book in the end -- and they're going to go after them and sue them for money for causing bad weather," Morano said.
He drew a parallel to how the Washington Post editorial board wrote a column that said President Trump is "complicit" in extreme weather like Hurricane Florence, due to his skepticism of human-induced climate change and his administration's efforts to "dismantle" environmental regulations.
"Donald Trump does not get credit for our economic growth, but the media is perfectly willing to blame him for a hurricane," Morano said. "How does that work? It makes no sense whatsoever."
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