SEC Extends Comment Period on Climate-Reporting Rule
May 9, 2022
WASHINGTON, D.C., May 9, 2022 – The National Pork Producers Council (NPPC) was pleased with today’s decision by the Securities and Exchange Commission (SEC) to extend the comment period to June 17 on its reporting requirements proposal on climate change-related information from publicly-traded companies and their customers, suppliers, and distributors.
“NPPC thanks Chairman Gensler and the SEC for recognizing the concerns of farmers and the challenges they face in understanding and commenting on the commission’s lengthy Climate Disclosures rule,” said NPPC’s Chief Executive Officer Bryan Humphreys.
The SEC responded to an NPPC-led letter signed by 119 other agricultural organizations asking for additional time to review and comment on the proposed regulation, noting that farmers were not normally regulated by the SEC and needed to fully understand the implications of the rule.
“Pork producers have a powerful story to tell and are proud of their extensive record of environmental stewardship and the industry’s leading-edge efforts to achieve carbon neutrality,” Humphreys added. “The additional time provided by the SEC allows farmers to provide more valuable information to the Commission as it continues to work on developing its disclosure rule.”
In late March, the SEC voted 3-1 to advance the climate-reporting rule, publishing the more than 500-page proposal in the April 11 Federal Register, with a comment period set to end May 20. The proposed regulation would mandate publicly-traded companies to report on their carbon emissions and other climate-related information, providing risk analyses, goals, and other potentially sensitive company data, as well as similar information from any companies with which they do business. NPPC will continue to work with its partners and the SEC to provide industry sustainability information.
NPPC is the global voice for the U.S. pork industry, protecting the livelihoods of America’s 60,000 pork producers, who abide by ethical principles in caring for their animals, in protecting the environment and public health and in providing safe, wholesome, nutritious pork products to consumers worldwide.