Insiders Helped Write, and Will Profit From, SEC ‘Green Accounting’ Rule, Watchdog Claims

‘It seems to be entirely a giveaway to politically connected insiders,’ Will Hild, Consumers’ Research executive director, claims.

U.S. Securities and Exchange Commission chairman Gary Gensler testifies during a Senate Banking Committee hearing on Capitol Hill in Washington on Sept. 12, 2023. Drew Angerer/Getty Images

What President Joe Biden calls the “historic transition” to green energy also comes with a generous helping of cronyism, enriching those with government connections, a new report alleges. 

Consumers’ Research, a watchdog group, said in its report released last week that the Securities and Exchange Commission relied heavily on a company called Persefoni, a startup that aspires to be the “TurboTax of greenhouse gas reporting,” when drafting its new “green accounting” rule.