In 2015, the Securities and Exchange Commission suggested what is known as Rule 30e-3, which modernizes the way companies and mutual funds report disclosure reports to shareholders and the public. The idea: getting rid of the requirement to deliver a hard copy and moving to the option of sending these digitally. However, this change is now facing opposition from interest groups. It turns out that there indeed such a thing as a tree lobby, and it’s much stronger than you think.

The fiscal and environmental impact of Rule 30e-3