The rule also calls for companies to disclose financial risks they face as a result of climate change in an effort to “strengthen the resilience of vulnerable Federal supply chains.”The rule would require federal contractors receiving more than $7.5 million in annual contracts to publicly share how much greenhouse gas pollution they generate from their operations and electricity use.Since the new standards apply only to federal contracts, they can be instituted without approval from Congress.The federal government says it’s “the world’s single largest buyer of goods and services,” so it can use its weight to compel companies to act faster on climate change.The SEC proposed those rules back in March and just missed an October deadline to finalize them following a technical glitch, industry pushback, and a pileup of public comments on the draft regulation.Under the new guidelines proposed today by the Biden administration, major contractors would also have to set “science-based” targets for reducing the pollution causing climate change."