NAFBF Applauds SEC for Sparing Farms from Wall Street Rules

 

The Securities and Exchange Commission (SEC) responded to American Farm Bureau Federation’s (AFBF) concerns and affirmed that regulations intended for Wall Street should not extend to America’s family farms. The SEC voted today on its final climate disclosure rule and removed the Scope 3 reporting requirement, which would have required public companies to report the greenhouse gas emissions of their supply chain.

Since the rule was first proposed two years ago, AFBF led the charge for the removal of Scope 3. Farm Bureau members sent almost 20,000 messages to the SEC and Capitol Hill, sharing their perspectives of how Scope 3 reporting would affect their farms.

“AFBF thanks SEC Chair Gary Gensler and his staff for their diligence in researching the unintended consequences of an overreaching Scope 3 requirement,” said AFBF President Zippy Duvall. “Farmers are committed to protecting the natural resources they’ve been entrusted with, and they continue to advance climate-smart agriculture, but they cannot afford to hire compliance officers just to handle SEC reporting requirements. This is especially true for small farms that would have likely been squeezed out of the supply chain...more