Opinion: It’s Elizabeth Warren against South Coast dairy farmers and ranchers
For the editor:
Senator Elizabeth Warren is seen as a leader in Washington who “stands for the little guy.” I’ve seen it in Senate hearings. It’s mostly sincere. To keep her Democratic Party credentials intact (she was a Republican in the 90s), she must fight climate change.
By advocating for climate change, she is doing a huge disservice to dairy farmers and ranchers on the south coast. Want the farming towns of the south coast to thrive? Well, those days may be numbered.
On March 21, 2022, the Securities and Exchange Commission proposed a rule this would require listed companies to document greenhouse gas emissions in their supply chain. This means that companies that buy dairy and animal protein from local farms will need to educate themselves on the environmental impacts of that farm. If it’s not up to par, they can’t participate in the market. Lenders want to do the same.
This could happen with publicly traded banks that also finance farms.
“You have too many cows and the cows produce methane. Sorry, no loan for you,” says Mister Big Bank and Mister Meat Packer traded on the stock exchange. “It’s not our decision. It’s the SEC and we have to be compliant.
Senator Warren supports this offer.
Although Warren’s argument is that she wants to reduce greenhouse gas emissions and does not target agriculture via the SEC’s so-called Scope 3 emissions assessment – which would have an absolute impact on all state farmers – none of that matters. His support for the SEC proposal is support for a rule that would dramatically change life on South Coast farms. I’m not sure she realizes that. Local farmers should learn about this rule and let it be known to them.
Readers may have heard of the farmers’ protests in Europe. This stems from similar policies currently taking shape in the Netherlands. The Dutch government mandates reductions in fertilizer use and greenhouse gas emissions. Farmers are livid. They’re burning things to the ground in the farming towns of this tiny, but powerful and influential European nation.
The Dutch government, its banks and multinational corporations like Unilever, have joined forces with many food conglomerates, animal vaccine manufacturers, investment banks and asset managers who have created advocacy groups, or non-profit organisations. non-profit, aiming to ensure that these policies are imposed in the world. The Western world. The Netherlands are the tip of the spear. Canada wants to impose similar rules.
And Elizabeth Warren gave her support because – oddly enough – she must believe that a bunch of global investment banks and corporations really want to save the planet and keep some of their eco-friendly investor clients happy. .
If this rule is passed, it will make traditional farming on the south coast almost financially impossible. You’ll have to be a big industrial farmer with a global operation – or a serf raising animals for a multinational who, if they can’t buy it from you, will just buy it from Brazil where such rules won’t apply.
South Coast farmers probably care as much about the environment as Senator Warren. But if you have a herd of cattle in your backyard, no matter how worried you are about climate change, the SEC — and by default, Senator Warren — says you’ll be considered a net negative for the cause. You’ll either have to shrink your herd or find a way to comply with these sweeping, investor-focused environmental rules, if they ever come to pass.
Maybe a few can hide in the private sector for a while. But over time, anyone connected to a publicly listed lender or buyer like Stop and Shop, owned by a Dutch company by the way, will be asked to comply.