April 10, 2024

Casten: The SEC is Acting in the Interest of Investors

Washington, D.C. — Today, U.S. Congressman Sean Casten, co-chair of the Congressional Sustainable Investment Caucus, hosted a press conference to highlight the importance of protecting free-market principles of consumer choice and investor freedom.

“The SEC is acting in the interest of investors, acting entirely within their mandate, to deal with the fact that investors in America tend to not like risk,” said Rep. Casten. “They like to invest in portfolios that maximize the return with the lowest possible risk.”

To watch the press conference, click here.

Earlier today, during a House Financial Services Committee hearing on the SEC’s climate disclosure rule, Rep. Casten emphasized the fact that climate risk is financial risk and that Congress and the SEC have a duty to protect investors.

“Our job here is not to protect Liberty Energy investors,” said Rep. Casten. “It is to protect markets. It is to protect all investors. It is to make sure that capitalism works. And I hope that someday that’s not partisan, even if it is scientifically true.”

In response to one Republican witness’s climate denialism, Rep. Casten said “I’m not going to get into an argument with you because ultimately you don’t matter. You are an interchangeable person who comes here and finds it useful to misrepresent science in order to create short-term value for your shareholders. There are thousands of people like you. You’re going to be forgotten years from now. Maybe your grandchildren will be embarrassed. I don’t know. But what I know right now is that we have to act on this stuff.”

You can watch Rep. Casten’s questioning from the hearing by clicking here.

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