Ola, imagine you're in Spain and you've just poured a refreshing Strya Galicia,

Cervaisa. You hear the bubbles in the glass calling out.

In the Penly on unbrooding Galicia since 1906, 100% authentic. But not all Spanish

beers are what they seem, a bit like me. I'm not Carlos from Acrouna. I'm Charles from Cambridge. Estreia Galicia.

Spanish. Not Spanish. I'm John Bachelor. This is CBS I on the world and Richard Epstein,

Professor Richard Epstein teaches law at NYU and the University of Chicago is a senior

felt the Hoover Institution and we are discussing the SEC

request for answers and questions about new thinking about climate change in the

Biden administration. Part of this new thinking is companies are to provide

information that connects with how well they're doing, reducing their greenhouse gases or

complying with government regulations. The one part of these questions

that struck me as unusual but I'm unfamiliar with the SEC rules

is number 12 and these questions put out for 90 days to respond.

What are the advantages and disadvantages of a quote comply or explained framework for climate change that would permit registrants to either comply with or if they do not comply explain why they have not complied with the

disclosure rules. How should this work? Should comply or explain apply to all

climate change disclosures or just select ones and why.

Richard is this the police power and is this the SEC

judging how a company's done year to year on uncertain metrics?

I got lost in this question.

Yes, well the police power more generically simply refers to those actions which are

justified with respect to the health, safety, morals, the general welfare of the publication, of the public.

And here is obviously health and safety of the two things that are most involved.

...