U.S. Cattlemen’s Association Applauds SEC Protection Bill

More than 100 members of the U.S. House of Representatives introduced legislation that would shield agricultural producers from a climate disclosure rule proposed by the Securities and Exchange Commission. U.S. Cattlemen’s Association President Brooke Miller says, “U.S. farmers and ranchers absolutely need this exemption from the SEC’s climate disclosure proposal. Our producer-members already face nearly insurmountable proposed and ongoing regulatory burdens from an array of federal agencies.” Miller also says producers’ main job should be putting American beef on American plates, not managing the complex clerical duties of SEC compliance rules. The “Protect America’s Farmers from the SEC Act” prohibits the SEC from requiring an issuer of securities to disclose greenhouse gas emissions from upstream and downstream activities in the issuer’s value chain arising from a farm. The SEC’s proposed rule says registrants would be required to disclose information about their direct and indirect greenhouse gas emissions and climate-related risks.