Cattle Raisers Applaud Bill to Curtail SEC Climate Reporting Requirements


Oklahoma Farm Report

01 Aug 2022


The Texas & Southwestern Cattle Raisers Association applauded Texas Congressman Troy Nehls (R-Richmond) for introducing crucial bipartisan legislation to prevent the Securities and Exchange Commission from requiring that companies report greenhouse gas emissions from their supply chain.


The Scope 3 Act has multiple co-sponsors from Texas, including Reps. Henry Cuellar (D-Laredo), Jake Ellzey (R-Midlothian), Vicente Gonzalez (D-McAllen), Ronny Jackson (R-Amarillo), Pete Sessions (R-Waco), Randy Weber (R-Alvin) and Roger Williams (R-Austin).


The legislation stems from an SEC rule proposal earlier this year that would mandate publicly traded companies report their greenhouse gas emissions. The rule requires these companies to disclose not just direct and energy-related emissions but also those of every downstream supplier, known as Scope 3 Emissions. If allowed to proceed, the requirement would significantly burden farmers and ranchers who fall into the supply chains of many publicly traded companies, restaurants and retailers...