Ag groups say potential rule might harm farmers and ranchers
Ag organizations are concerned a proposed rule change by the Securities and Exchange Commission might disclose personal and farm information.
American Farm Bureau Federation along with 119 other agriculture groups say the SEC’s proposed “Enhancement and Standardization of Climate-Related Disclosures for Investors” rule would have public companies report data about their entire supply chain, which would include farm producers. Farm Bureau President Zippy Duvall says nearly every farmer’s and rancher’s products eventually touch a publicly-traded company, meaning the producers could be forced to report personal information and business-related data.
Duvall says the rule appears to be an example of overreach by the commission, and that the proposed rule would include almost certain reporting obligations, technical challenges, significant financial and operational disruption, and the risk of financially crippling legal liabilities for farms of all sizes.
The groups want more comment time since the SEC only allowed 39 days to review the 510-page rule proposal.