Organizations Involved: Initiative on Climate Risk and Resilience Law, Environmental Defense Fund
Source: Federal Acquisition Regulatory Council
Abstract
In the normal course of operation for federal procurement under the Federal Acquisition Regulation (FAR), care is taken to structure purchases and contracts consistent with principles of efficiency, risk management, and cost minimization. Existing procedures, however, do not yet incorporate and manage financial risks posed by the consequences of climate change. These comments recommend that the FAR Council consider amending the FAR to require federal agencies to identify and manage climate-related risks in their procurements and supply chains; require climate risk disclosures from potential contractors; and require federal agencies to consider maladaptation in making procurement decisions. The comments furthermore recommend that the FAR Council consider coordinating with other agencies on scenario analysis.
