The Securities & Exchange Commission (SEC) is trying to impose a rule in which all companies that work through SEC trading have to have an emissions paper trail when it comes to their products. This means farmers would have to keep track of things like carbon and methane.
Ag groups have been pushing back by highlighting the impracticality of the idea, and one Senator is now challenging the rule saying it is nothing more than the Biden Administration pulling the strings to stop investments in any kind of fossil fuel and to force reporting of any emissions generated.
South Dakota Senator John Thune took aim at the SEC proposal. He talked about the uncertainty it is already causing.
Thune proposed a bill in which regulatory agencies must meet an inflation test before causing increases to food & fuel prices during a recession.
Thune’s bill stops any rule that would increase food or fuel costs if inflation is more than 4.5%
Ag groups have said this will put unnecessary burdens on small and medium farmers who don’t have the resources to afford those kinds of tests and reporting.