June 20, 2022 – Venture Dairy Cooperative submitted comments to the SEC on its proposed rule on the Enhancement and Standardization of Climate-Related Disclosures for Investors.
This rule would require additional monitoring and reporting of climate data and have serious ramifications for farmers.
“[T]his extension of reporting on Scope 3 emissions will inevitably filter down the supply chain to our nation’s family farms who grow and raise the food we eat. This will create a new level of reporting obligations, technical challenges and significant financial and operational difficulties that will cripple our farm families. Unlike the large corporations that are currently regulated by the SEC, our family farms don’t have the teams of compliance officers and on-staff attorneys to take on the tasks that would be required to comply with your proposed rule intended for Wall Street,” said VDC Executive Director Kim Bremmer.
“We must make certain the federal government understands the devastating and far-reaching effects of this rule.”
VDC will continue monitoring this rule and provide updates as available.
