On National Farmer’s Day, Rep. August Pfluger (TX-11) sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler expressing concern over the SEC’s proposed climate disclosure rule, which will harm U.S. agriculture producers and the economy.
In the letter, Rep. Pfluger notes: “The immense task of monitoring and reporting emissions data will fall to those who lack the financial resources and sophisticated technology to document required disclosure information.
“The cost of this effort will increase production costs at a time of record inflation and inhibit American producers’ ability to compete in the global market and encourage further consolidation across supply chains.
“The SEC’s climate disclosure rule will prove to be disastrous for the agriculture industry and our nation’s food security … A nation that can feed itself is inherently safer and more secure than one that cannot.
“This rule unduly burdens rural communities and threatens both our economic and national security.”
Rep. Pflugeralsoemphasizes the significance of the agriculture industry, which contributes over $100 billion in value to the U.S. GDP, and asks how the SEC will insulate agribusinesses of all sizes from the immeasurable negative impacts of the proposed rule.
—submitted