While the lack of clear Congressional control will continue to present challenges to the Biden Administration as it seeks to advance its climate change agenda, there are other, indirect, ways through which it can foster change and influence the debate, particularly in the court of public opinion in the United States. One clear weapon in its arsenal is the SEC, which is reported to have declined objections by both ConocoPhillips and Occidental Petroleum to exclude requests for shareholder votes that would require them to set out detailed plans for how they intend to curtail Scope 3 emissions.
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With increasing regularity, the Biden Administration continues to advance its climate change agenda
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The decisions mark the first time that the SEC has denied requests by oil and gas companies to exclude votes on Scope 3 emissions, according to activists. They suggest the regulator is pushing ahead with a more interventionist approach under the new administration, even before the confirmation of its new chair.
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