SEC climate reporting rules could impact local farmers and ranchers
Two Republican Senators introduced a bill they say will protect small family farmers and ranchers from proposed SEC rules regarding greenhouse gas emissions disclosures.
The SEC proposed a rule that would require public companies to disclose their greenhouse gas emissions. That includes all operations the company owns or controls, and any indirect emissions that occur as their products are being made. That’s called value chain reporting, and could impact farmers and ranchers who provide their ingredients and food to large companies like McDonalds, Chipotle or Yum brands that owns KFC, Taco Bell and Pizza Hut.
Now, Senators John Boozman and Mike Braun who sit on the Agriculture Committee have introduced The Protect Farmers from the SEC Act, which would exempt family owned businesses from having to report granular data and their day-to-day activities.
Senator Boozman said kjin a statement: “The publicly traded corporations overseen by the SEC won’t be the ones tasked with complying with these onerous ‘value chain’ rules. That responsibility would fall on America’s family farmers and ranchers who would be forced to deal with unprecedented amount of unnecessary paperwork.”
The rules could be finalized in early 2023, but it’s expected they will be met with fierce opposition and legal challenges. Straight from DC, I’m Ray Bogan.