DoD, GSA, and NASA have decided to withdraw a proposed rule that aimed to amend the Federal Acquisition Regulation (FAR) for disclosing greenhouse gas emissions and climate-related financial risks. The proposal stemmed from Executive Order 14030 and involved major Federal suppliers setting science-based reduction targets. The decision to withdraw is due to the lack of time in the Biden-Harris Administration to finalize the rule and evolving industry practices and standards. The agencies will continue to monitor and consider future actions concerning greenhouse gas disclosure.
Simple Explanation
The government wanted to make a new rule for their big suppliers to talk about how they help with climate change, but they decided not to do it right now because they ran out of time and things are still changing a lot in the world.