Weighing in on the Potential Impact of the SEC’s Greenhouse Gas Disclosure Rule on Farms & Ranches

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This week Chrissy Wozniak discusses a new proposed rule by the SEC, with Mary-Thomas Hart, the Chief Counsel, Government Affairs at National Cattlemen's Beef Association.

The National Cattlemen’s Beef Association (NCBA) reiterated the need for a limited version of the Securities and Exchange Commission’s (SEC) greenhouse gas disclosure rule following SEC Chairman Gary Gensler’s testimony before the U.S. Senate Committee on Banking.

The SEC’s greenhouse gas disclosure rule, proposed earlier this year, would require publicly traded companies to disclose their direct (scope 1), indirect/energy use (scope 2), and supply chain (scope 3) greenhouse gas emissions. The requirement to include scope 3 emissions would place a disproportionate burden on cattle producers whose beef is part of the supply chain for publicly traded restaurants and retailers. Additionally, the rule exposes individual producers to additional levels of legal liability.

NCBA previously submitted technical comments on the rule and individual cattle producers sent over 7,406 emails to SEC commissioners and members of Congress expressing concern with rule. NCBA has encouraged the SEC to remove the requirement to disclose scope 3 emissions, which would lessen the burden on cattle producers.

The National Cattlemen's Beef Association (NCBA) has represented America's cattle producers since 1898, preserving the heritage and strength of the industry through education and public policy. As the largest association of cattle producers, NCBA works to create new markets and increase demand for beef. Efforts are made possible through membership contributions. To join, contact NCBA at 1-866-BEEF-USA or membership@beef.org.

For more policy related information visit policy.ncba.org

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