NC H1172

North Carolina General Assembly urges Congress to oppose the SEC's proposed rule requiring public companies to disclose Scope 3 greenhouse gas emissions.

Agriculture contributes $92.9 billion annually to North Carolina's economy and is the state's number one industry, with 98% of farms being family-owned and operated.

Nearly 80% of the state's 46,000 farms have revenues of $50,000 or less and lack the compliance resources of publicly traded companies to meet additional reporting requirements.

The resolution argues that imposing climate-related disclosure requirements would distract farms from food production and could force family farms to cease operations given current economic challenges from inflation and increased expenses.

Secretary of State shall transmit a copy of the resolution to the Securities and Exchange Commission upon ratification.