February 8, 2023

Volume XIII, Number 39

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February 08, 2023

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February 07, 2023

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February 06, 2023

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Proposed Rule Would Require Government Contractors to Disclose Climate-Related Risks

Today, the Biden-Harris Administration released the Federal Supplier Climate Risks and Resilience Proposed Rule (also known as the Gas Emissions and Climate-Related Financial Risk Proposed Rule), which would require contractors of the federal government to disclose their climate-related risks. Of particular note:

Under the proposed rule:

  • Federal contractors receiving more than $50 million in annual contracts would be required to publicly disclose Scope 1, Scope 2, and relevant categories of Scope 3 emissions; disclose climate-related financial risks, and set science-based emissions reduction targets.

  • Federal contractors with more than $7.5 million but less than $50 million in annual contracts would be required to report Scope 1 and Scope 2 emissions.

  • Small businesses with over $7.5 million in annual contracts would only be required to report Scope 1 and Scope 2 emissions under the proposed rule.

  • All Federal contractors with less than $7.5 million in annual contracts would be exempt from the rule.

View an advance copy of the proposed rule (official publication date is 11/14).

View the White House announcement.   

© Copyright 2023 Squire Patton Boggs (US) LLPNational Law Review, Volume XII, Number 314
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