The National Cattlemen’s Beef Association supports the Senate version of the Protect Farmers from the SEC Act, a companion bill to legislation introduced into the House of Representatives by Oklahoma Republican Frank Lucas.
“The Securities and Exchange Commissions’ overly broad rulemaking has the potential to increase burdens on cattle producers by requiring data that’s impossible to provide,” says NCBA Chief Counsel Mary-Thomas Hart. “The NCBA is proud to support the act because it ensures that federal regulators don’t overstep their jurisdiction and protects cattle producers from government red tape.”
The act excludes agriculture from the reporting Scope 3, or supply chain, greenhouse gas emissions under the SEC’s proposed climate disclosure rule. While the rule is aimed at large publicly-traded companies, ag operations could be subjected to additional reporting as part of the supply chain for public restaurants and retailers.
“We thank Senators Boozman and Braun for focusing on the issue,” Hart says.