(NAFB.com) – The American Farm Bureau and 119 other ag organizations sent a joint letter to the Securities and Exchange Commission regarding a proposed rule that may impact every American farmer and rancher.

The groups want more time to comment on the proposed rule called “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” The SEC now wants to require public companies to report data on their entire supply chain. Almost every farmer’s and rancher’s products go through a publicly-traded company. That means farmers and ranchers could get forced to report personal information and business-related data. The new reporting requirements would create a heavy burden even for smaller farms having few or no employees.

“Farmers and ranchers are already heavily regulated by multiple agencies at the local, state, and federal level,” says AFBF President Zippy Duvall. “The new requirements would make an already complicated patchwork of regulations even more cumbersome.”