If you are a supplier to the US Department of Defense (DoD), General Services Administration (GSA) or NASA, you just got a break:
“DoD, GSA, and NASA are withdrawing the proposed rule to amend the Federal Acquisition Regulation (FAR) titled: Disclosure of Greenhouse Gas Emissions and Climate-Related Financial Risk. Executive Order 14030, directed the Federal Acquisition Regulatory Council to consider amending the Federal Acquisition Regulation (FAR) require major Federal suppliers to publicly disclose greenhouse gas emissions and climate-related financial risk and to set science-based reduction targets. A proposed rule was published on November 14, 2022. The agencies lack sufficient time during the Biden-Harris Administration to finalize the proposal. In addition, the agencies’ analysis of public comments indicates an evolving practices and standards in industry, and an evolving domestic and international regulatory landscape. Accordingly, this proposed rule is withdrawn, and the FAR case is closed.”
In reality, this may not be as big a gift as it seems. Many of these same companies likely still have to report under California’s climate disclosure laws and/or the EU CSRD. Those that will benefit from this withdrawal are small, private Mom-and-Pop companies not covered by those other mandates. I’m sure they greatly appreciate this.
Members can learn more about climate disclosures here.
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Photo credit: Sergey Kohl – stock.adobe.com
