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esident 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.
“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.
