Testimony on SEC’s Proposed Climate Rule

Montana Senator Jon Tester pushed the leader of the Securities and Exchange Commission to avoid taking action on its proposed Climate Rule that could potentially hurt American farmers. He’s concerned that action would lead to burdensome reporting requirements for family farmers and ranchers who are part of the supply chain for a publicly-traded company as part of the agency’s proposed climate disclosure rule.

“I appreciate our discussion and your response that the SEC doesn’t intend for public companies to have an obligation to ask producers for information to estimate these emissions,” he says. “However, the agency must not take any action that may lead, intentionally or not, to burdensome reporting requirements for production agriculture.” Montana producers applauded the senator’s continued action.

“We support the senator’s efforts to help the SEC understand our concerns with what could potentially be a far overreaching rule,” says Cyndi Johnson, president of the Montana Farm Bureau.

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