New plan protects federal supply chain from climate risks

Statement by Michael Panfil, Sr. Director and Lead Counsel of Climate Risk Strategies at EDF – November 10, 2022

November 10, 2022

Matthieu Tresaugue, [email protected], 713-392-7888

“Climate change poses significant and growing challenges financial risks across the United States. The standard proposed today, the Federal Supplier Climate Risk and Resilience Rule, from the Federal Acquisition Regulatory Council would help ensure that the US federal government – ​​the largest purchaser in the world – can make informed purchasing decisions that take climate-related financial risks into account. This is an important step in preserving the health of the US economy and ensuring the resilience of essential government functions.

“The proposed standard, if finalized, would advance these crucial protections by requiring major suppliers to the federal government to publicly disclose their greenhouse gas emissions and climate-related financial risks, and to set carbon reduction targets. their shows. This information is critical because extreme weather amplified by climate change such as droughts, storms and wildfires pose an increasing financial risk – and the US government and its supply chain are not immune.

“Incorporating climate-related financial risks into public procurement is vital and long overdue, as noted by the US Government Accountability Office. We urge the rapid finalization of this proposed standard.

  • Michel Panfil, Senior Director and Lead Counsel of Climate Risk and Clean Power at EDF

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