On November 14, 2022, the Department of Defense (“DoD”) proposed a rule requiring certain federal suppliers to disclose greenhouse gas emissions (“GHG”) and climate-related financial risks, as well as set science-based targets to reduce greenhouse gas emissions. 87 Fed. Reg. 68312. Under this proposed rule, “significant contractors,” or those with US$7.5M—$50M in federal contract obligations and “major contractors,” those with greater than US$50M in federal contract obligations, would need to invest substantial resources into emissions accounting regimes to comply. The Government is particularly interested in assessing GHG emissions and climate-related risks like disruptive weather events and material cost fluctuations throughout the federal supply chain and the larger US economy, shifting this burden to major contractors in the hopes they will invest in GHG management. The rule would give contractors one year to develop accounting methods before requiring official disclosures. Two years after publication, major contractors will be mandated to complete a GHG inventory including certain emissions, as well as conduct a climate risk assessment and obtain validation of science-based targets. The comment period of the proposed rule change is now open until February 13, 2023.
The proposed rule is part of the Biden Administration’s agenda to combat climate change set out in Executive Order 14057. The rule aims to mitigate these risks while enhancing US competitiveness and...
The Dangote Group has become aware of a publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” which is false, malicious, and baseless. At no time did the Pre...