The American Farm Bureau Federation and National Pork Producers Council welcomed the Securities and Exchange Commission’s comment period extension for a proposed rule.
The groups say they need more time to evaluate “The Enhancement and Standardization of Climate Related Disclosures for Investors” rule.
The proposal would require public companies to report on Scope 3 emissions, which result from activities from assets not owned or controlled by a publicly-traded company but contribute to its value chain.
While farmers and ranchers would not be required to report directly to the SEC, they provide almost every raw product that goes into the food supply chain.
Farm Bureau President Zippy Duvall says, “America’s farmers and ranchers need time to fully understand the consequences of this 510-page proposal.”
NPPC Chief Executive Officer Bryan Humphreys adds, “The additional time provided by the SEC allows farmers to provide more valuable information to the Commission as it continues to work on developing its disclosure rule.”