Investing in wokeness instead of financial stability has officially made its way to our nation’s top financial regulator. The Securities and Exchange Commission is in the process of designing a massively complex and costly climate-disclosure rule, coming in the form of a 500-plus page proposed regulation.

Specifically, the proposed rule would require that U.S. companies report direct and indirect emissions defined as Scope 1, 2, and 3 that go beyond supply chains and into consumer behavior. According to the SEC, the paperwork burden alone will cost companies $10.2 billion and be a boon for the climate industrial complex as well as the plaintiff’s bar.