This is CBSI in the world, I'm John Bachelors.

The SEC, the Securities Exchange Commission, Gary Gensler, is the new leader with ideas

that are extremely controversial at the same time, exciting.

I welcome Professor Richard Epstein, senior fellow at the Hoover Institution, teaches

law at NYU and the University of Chicago to introduce us to the most recent presentation

by the SEC.

How reshaping investment, according to the regulators in Washington, will benefit the whole of the

planet, the future of mankind, having to do with the idea of climate change.

This is a set related generally to what is called ESG investing.

Now a prominent piece of the conversation worldwide about the markets.

Professor, a very good evening to you, Gary Gensler proposes one commissioner who is in

a Republican appointee, Hester Pierce, comments, but at the same time, I read from your essay

at defining ideas, there's a major voice here that I ask whom I ask you to address.

This is Larry Fink, the CEO of BlackRock, a billionaire, a man who's much in the news,

and he regards challenging global warming as a fundamental reshaping of finance.

So I ask, what is it that Larry Fink sees given his success over the years, and how is

it that Gary Gensler putting out a paper, 506 pages, some of which I've skimmed through?

How is it that Gary Gensler believes that by shaping investment, he will change the

outcome of the planet, good evening to you, Richard.

Well, this is a very typical case of wild over ambition.

The theory is that when you start giving this information out to all sorts of other people,

they will use it in a way which will change what they're going to do.

...