Press Releases

WASHINGTON, D.C. – Today, House Budget Committee Chairman Jodey Arrington (TX-19) issued the following statement in response to the SEC’s Climate Disclosure Rule:

“Late last week, the SEC released its final climate disclosure rule - WITHOUT burdensome Scope 3 reporting requirements. This scaled-back rule is a big win for our farmers and ranchers who would have been forced to tediously track greenhouse gas emissions from their supply chains if Scope 3 had been implemented.

“Our farmers and ranchers have experienced firsthand the challenges created by Biden's radical environmental agenda. From WOTUS and the outdated Endangered Species Act to skyrocketing input costs, our ag industry is fighting an uphill battle to provide food security to Americans and meet the growing global demand for ag products grown in the USA.”

Background:

• On March 6^th, the Securities and Exchange Commission (SEC) adopted rules to require public companies to disclose climate-related information.

• The rules are divided into Scope 1; emissions from sources that an organization owns or controls directly, and Scope 2; emissions that a company causes indirectly and come from where the energy it purchases and uses is produced.

• Scope 3, which would have required disclosure of emissions by other indirect entities up or down its supply chain, was removed from the original proposal.

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