State Insurance Commissioners Push Feds to Back Off on Pending Regs Requiring Industries to Disclose Carbon Footprint. By Evan Lehmann, ClimateWire, March 30, 2010. "A surprise rebellion by a majority of insurance regulators Sunday reversed key elements of a landmark regulation requiring the nation's largest industry to publicly disclose its efforts to address climate change. Companies can now submit their answers confidentially in most states. The upheaval rolls back the nation's maiden climate rule on corporations, casting environmentalists and investor advocates into confusion weeks before the 12-question survey was supposed to be enacted. The change, passed by a vote of 27-22 among state insurance commissioners, promises to make it more difficult for activists to pressure the sprawling industry to act more aggressively on global warming. It also underscores the depth of concern that commissioners around the country have with a survey that asks about insurers' actions to reduce their greenhouse gas emissions and safeguard billions in investments from climatic impacts, and about efforts to spark activism among their customers.
"Mandatory disclosure would essentially force insurers to get more involved, or face a public relations nightmare, opponents say. The rebellion among regulators appears to underscore the hesitancy of some states to play a part in environmental advocacy... Yet climate change is clearly within the jurisdiction of regulators, supporters say, pointing to the solvency issues that climatic impacts could have on a company's investment return, exposure to loss and ability to bend with national legislation."
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