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National & World Ag News Headlines |
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Bill Would Exclude Agriculture from SEC Reporting Rule
USAgNet - 10/03/2022
Rep. Frank Lucas (R-Okla.) Thursday introduced a bill to prohibit the U.S. Securities and Exchange Commission (SEC) from requiring publicly traded companies to disclose the greenhouse gas emissions from their partner companies, suppliers, and distributors if their activities arise from farming.
In March, the SEC proposed a regulation mandating such companies to report their carbon emissions and other climate-related data, as well as similar information from their “upstream” and “downstream” affiliates.
In comments submitted to the agency in June, nearly a dozen agricultural groups requested that the SEC reconsider its application of burdensome and unnecessary climate disclosure requirements in the proposed rule. “As currently drafted,” the organizations
said, “[the rule’s] requirements would overly burden American farmers, forcing them to take on costly and expensive reporting that will set back farm environmental performance, and would be in violation of federal law.”
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