June 23, 2022

National Pork Producers Council urges SEC to reconsider famers' climate disclosure rules

The US National Pork Producers Council (NPPC) has urged the US Securities and Exchange Commission (SEC) to reconsider the commission's climate disclosure rules for farmers, as it would place an undue burden on them, NPPC reported.

The NPPC said the new climate disclosure requirements will require farmers to undertake expensive reporting that would affect farm environmental performance and be against the law. They said the requirements will be neither accurate or serve any useful purpose.

Michael Formica, assistant vice president and general counsel at NPPC, said only 0.3% of US climate emissions come from the pork industry, but US swine farmers have reduced their greenhouse gasses footprint by over 21% over the past three decades while also increasing production of reasonably priced pork for consumers by 77%.

He said this shows that farmers are committed to addressing the long-term sustainability issues that everyone is facing, as well as that voluntary, market-based incentives have contributed to significant progress against climate change.

The NPPC submitted comments to the SEC together with ten agricultural organisations, including the American Farm Bureau Federation.

Formica said swine farmers in the US are dedicated to transparency in climate-related matters, and want to do this consistent with existing practices.

He also said the proposed rule's costs would be high, especially for small and medium-sized farms, and would result in industry consolidation, which would further affect not only the rural communities where those farms are located but also everyone's ability to enjoy bacon with breakfast in the US.

-      National Pork Producers Council