Analysis: Rich countries must end oil and gas production by 2034, report says
At an open meeting, the SEC’s three Democratic commissioners voted to approve the proposal, while the sole Republican commissioner voted against it. SEC Chair, said the rule would provide “consistent, comparable information” to investors.
The rule reflects the Biden administration’s broader push to tackle the risks that climate change poses to the financial system and economic stability. The public will have 60 days to submit comments after the proposed rule is published. Then the commissioners will take the comments into consideration and vote on a final rule — a process that could take several months.
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Wealthy Countries Must End Oil and Gas Production by 2034, Report SaysDire new research says that rich countries must end oil and gas production entirely by 2034 for the world to have a 50% chance of meeting the Paris agreement goal of less than 1.5 degrees Celsius of warming.
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