; Whereas certain policymakers intend to reorient the securities disclosure regime to require disclosure of immaterial information to achieve social and political goals; Whereas the SEC is not tasked with or capable of formulating environmental or social policy; its core mission is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation; Whereas to the extent that climate risks become material for a particular public company, disclosure of those risks is already required; Whereas SEC rules currently make explicitly clear that material effects of climate change to the business must be disclosed (17 C.F.R. 211, 231, and 241); Whereas additional SEC climate disclosure regulations threaten to impose expensive compliance costs and lessen investor enthusiasm for American energy companies; and Whereas capital markets regulations should not discourage investments which would further United States energy independence: Now, therefore, be it