The Biden administration proposed a rule Thursday that would force all large federal contractors to disclose their greenhouse emissions and “climate-related” financial risks.
President Joe Biden’s plan would require major contractors to publicly disclose the number of carbon emissions they produce and publish their “climate-related” financial risks, according to a White House fact sheet. The rule would also force contractors to set “science-based” emissions reduction targets that were stipulated by the 2015 Paris Climate Agreement. (RELATED: The Country Is In The Middle Of A Diesel Crisis — And The Biden Admin Is Making It Worse, Experts Say)
“As the world’s largest purchaser of goods and services, the Federal government has a critical opportunity to leverage its spending power to help reduce climate risks and safeguard taxpayer dollars,” Office of Management and Budget Director Shalanda Young said in a statement provided to The Washington Post.
The administration will tout the proposal on Friday and Saturday at the United Nations COP27 climate summit in Egypt to demonstrate President Joe Biden’s efforts to mitigate the “climate crisis.” Biden will arrive at COP27 on Nov. 11 to participate in climate talks with other world leaders.
The proposed rule will push large contractors to slash carbon emissions and embrace green energy technologies, according to the fact sheet. The U.S. government is the world’s largest buyer of goods and services and spent $630 billion on them in fiscal year 2021.
In January 2021, Biden ordered the federal government to offset or remove as many emissions as it produces by 2050 and hopes to achieve this by mandating government agencies to only purchase electric vehicles for their fleets by 2027.
“This new proposed rule is an important step forward that will help us achieve our ambitious climate goals, promote efficiency, and increase the resilience of federal supply chains,” Young said, according to the Post.
The White House did not immediately respond to the Daily Caller News Foundation’s request for comment.
All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact firstname.lastname@example.org.