❌Proposed Rule Withdrawal on Greenhouse Gas Emissions Impact
Federal Acquisition Regulation: Disclosure of Greenhouse Gas Emissions and Climate-Related Financial Risk
Summary
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 Accordingly, this proposed rule is withdrawn, and the FAR case is closed.
Agencies
- Defense Department
- General Services Administration
- National Aeronautics and Space Administration
Business Impact
$ - Low
The withdrawal of the proposed rule regarding greenhouse gas emissions and climate-related financial risk does not impose direct compliance or financial requirements on businesses. Affected federal suppliers are relieved from currently potential regulatory burdens until further notice.