Statement from the Illinois Farm Bureau regarding the Securities and
Exchange Commission revised climate disclosure rule
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[March 07, 2024]
The
Securities and Exchange Commission (SEC) voted Wednesday on its
final climate disclosure removal and removed the Scope 3 reporting
requirement, which would have required public companies, including
farmers, to report the greenhouse gas emissions of their supply
chain.
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American
Farm Bureau Federation (AFBF) led the charge for the removal of
Scope 3 since the rule was first proposed two years ago.
Illinois Farm Bureau (IFB) supported these efforts with nearly
1,200 members communicating with their representatives about the
rule.
“IFB thanks AFBF for leading the charge and working with SEC
Chair Gary Gensler and his staff to research the unintended
consequences of the Scope 3 rule,” said IFB President Brian
Duncan. “The Scope 3 requirement would have imposed additional
burdens on our farmers – especially our small, family-owned
farms – which could have potentially led to even more
consolidation in our industry.
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“Illinois farmers are dedicated to advancing climate-smart
agriculture and putting scientific solutions, technology and
innovation to work. We have made great strides in this space and
recognize the value in collecting scientifically-sound data to
share our efforts, such as collaborating with our partners on
the recent Illinois Agriculture Retail Survey, which helps us
record nutrient loss reduction progress.”
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Illinois Farm Bureau is a member of the American Farm
Bureau Federation, a national organization of farmers and ranchers.
Founded in 1916, IFB is a non-profit, membership organization
directed by farmers who join through their county Farm Bureau. IFB
has a total membership of more than 364,452 and a farmer membership
of 75,959. IFB represents three out of four Illinois farmers.
[Sierra Henry
Media Relations Specialist
Illinois Farm Bureau®]
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