WASHINGTON, D.C. (March 8, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, issued the following statement regarding the SEC removing the Scope 3 requirements from its final rule:

“Small businesses can breathe a sigh of relief that the SEC followed NFIB’s recommendation and removed the Scope 3 requirements from its final rule,” said Beth Milito, Executive Director of NFIB’s Small Business Legal Center. “The Scope 3 requirements would have compelled SEC-regulated companies to track indirect carbon emissions and force many small business owners into a costly, time-consuming reporting regime. In addition, the requirement went far beyond the authority granted to the SEC by Congress. The SEC was wise to follow NFIB’s advice and drop this unconstitutional provision from the final rule. This is a victory for NFIB members and small businesses everywhere.”