New Plan Protects Federal Supply Chain from Climate Risks

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

November 10, 2022
Matthew Tresaugue,, 713-392-7888

“Climate change poses significant and growing financial risks across the United States. Today’s proposed standard, the Federal Supplier Climate Risks and Resilience Rule, from the Federal Acquisition Regulatory Council would help ensure that the U.S. federal government – the world’s largest buyer – can make informed purchasing decisions that account for climate-related financial risks. Doing so is an important step to safeguarding the health of the American economy and ensuring resilience of essential government functions.

“The proposed standard, if finalized, would advance these crucial protections by requiring the federal government’s major suppliers to publicly disclose their greenhouse gas emissions and climate-related financial risks, and to set targets for reducing their emissions. This information is critical as climate change-amplified extreme weather conditions like droughts, storms, and wildfires pose increasing financial risk – and the U.S. government and its supply chain are not immune.

“Consideration of climate-related financial risks in government procurement is vital and overdue, as the U.S. Government Accountability Office has noted. We urge the swift finalization of this proposed standard.”

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

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