The climate disclosure rule is on the table. Last week, the American Farm Bureau, along with several other ag groups, submitted their concerns about it to the Securities Exchange Commission.
Andrew Walmsley with AFBF Government Affairs explains what they said.
“We don’t think the SEC, when they proposed this rule, really thought through the implications and costs and burdens that would be put on rural America. And so, we’re encouraging them through this rulemaking process to reevaluate this rule and take our concerns to heart and propose a better rule that provides information that is useful to shareholders, but it does not create undue burdens on agriculture.”
Walmsley says the rule would require burdensome record-keeping as well as create liability and data privacy concerns. He urges producers to reach out to their representatives to voice their opinion.
Related:
NCBA files comments on the SEC’s greenhouse gas disclosure rule
Lawmakers voice concerns for farmers over SEC proposal
A new SEC rule will require climate data that could impact every farmer
