NC H1174

North Carolina House of Representatives urges Congress to oppose the Securities and Exchange Commission's proposed rule requiring public companies to disclose Scope 3 greenhouse gas emissions.

The rule would effectively regulate farms of all sizes and require climate-related disclosures that farms may be unable to quantify, distracting them from food production.

Agriculture contributes $92.9 billion annually to North Carolina's economy as the state's number one industry, with 98% of farms family-owned and 80% having revenues of $50,000 or less.

Additional regulatory burden from climate reporting requirements could cause family farms to cease operations amid current economic challenges from inflation and increased expenses.

The Principal Clerk shall transmit a copy of this resolution to the Securities and Exchange Commission; the resolution is effective upon adoption.