Guess what information is available to investors? What the company they're investing in actually does.
Which is out of scope for the SEC. The SEC doesn't, or shouldn't, care what a company does. It doesn't even have to understand what a company does. It just makes sure a standardized set of data is available so investors can gauge how the company is performing financially. If something regarding the environment is going to affect profits, companies are already required to disclose that.
I thought people liked free markets?
There is a delicate balance between allowing markets to provide adequate goods and services to people, and the government forcing markets to do things.
I don't particularly care if the government forces companies to disclose CO2 emissions. I *do* care about government agencies doing things they weren't authorized to do. A solid 1/4 of supreme court cases involve stuff like this. A pond in your backyard is not a wetland. Seizing someone's $150,000 home and selling it to cover a $2,000 tax bill isn't kosher (that one happened by me.) Agencies that set rules for others should, first and foremost, follow their own rules.