Exemption for Farmers on reporting on GSG Emissions

By Simon M.Shane

Senator Cindy Hyde-Smith (R-MS) is cooperating with Senate colleagues including John Boozman (R-AR) to reintroduce the Protect Farmers from the SEC Act.  This proposed legislation (S.391) would exclude agriculture from reporting greenhouse gas emission (GHG) data indirectly to the Securities and Exchange Commission.

Senator Hyde-Smith stated, “The SEC climate proposal is what you get when clueless bureaucrats are allowed to run amok to dream up new rules and regulations.”   Her cosponsor, Senator Boozman, stated, “Our farmers and ranchers are struggling with record high input costs, supply chain bottlenecks, labor shortages, drought and other natural disasters.  Yet, the Administration, with its never-ending focus on climate change, wants to bury them with reams of paperwork as well.” 
The SEC has proposed that all public-quoted companies disclose GHG emissions in their supply chains.  Since farmers are involved in a wide range of industries including food manufacturing and retail, the burden will fall on producers of livestock, vegetables, food and row crops to submit data on GHG emissions.

A companion Bill, HR.1018, has been introduced into the House cosponsored by Rep. Michael Guest (R-MS) and Rep. Frank Lucas (R-OK).

The SEC proposal on GHG reporting is justifiably opposed by a broad range of agricultural associations representing industry segments.