34862 Federal Register / Vol. 87, No. 110 / Wednesday, June 8, 2022 / Notices 

2CEA sections 3(a), 3(b), 7 U.S.C. 5(a), 5(b). 

1Commodity Exchange Act (‘‘CEA’’) section 

2(a)(1)(A), 7 U.S.C. 2(a)(1)(A). 

2CEA section 3(a), 7 U.S.C. 5(a). 

3CEA section 3(b), 7 U.S.C. 5(b). 

4See Regulatory Flexibility Act (RFA) of 1980 (5 

U.S.C. 601–612), as amended by the Small Business 

Regulatory Enforcement Fairness Act (SBREFA) of 

1996, Public Law 104–121, 110 Stat. 857 (codified 

at 5 U.S.C. 601 et seq.). 

covers a huge expanse of territory that is far 

outside the CFTC’s statutory authority over 

derivatives markets under the CEA. 

• Request no. 3 asks what steps the 

Commission should consider, in addition to 

publishing information in its possession, ‘‘to 

make climate-related data more available to 

registrants, registered entities, other market 

participants, and/or the public (as 

appropriate and subject to any applicable 

data confidentiality requirements) in order to 

help understand and/or manage climaterelated financial risk?’’ This suggests that the 

CFTC has statutory authority under the CEA 

to order, as it deems appropriate, any 

individual or entity to make data available 

for the benefit of registrants, registered 

entities, other market participants, and/or the 

public. It does not. 

• Request no. 18 asks what derivatives 

products ‘‘are currently used to manage 

climate-related financial risk, facilitate price 

discovery for climate-related financial risk, 

and/or allocate capital to climate-benefiting 

projects?’’ In Section 3(a) of the CEA, 

Congress found that the derivatives 

transactions regulated by the CFTC provide 

‘‘a means for managing and assuming price 

risks [and] discovering prices . . .’’ In 

Section 3(b) of the CEA, Congress then 

identified the CEA’s purposes as including 

deterring and preventing manipulation or 

other market disruptions; ensuring the 

financial integrity of transactions; avoiding 

systemic risk; protecting market participants 

from fraud, abusive sales practices, and 

misuses of customer assets; and promoting 

responsible innovation and fair competition.2

Nowhere in the CEA did Congress suggest 

that it is a purpose of the CEA, or the mission 

of the CFTC, to allocate capital—whether to 

climate-benefiting projects or otherwise. 

• Request no. 24 asks whether the 

Commission should consider ‘‘creating some 

form of registration framework for any market 

participants within the voluntary carbon 

markets to enhance the integrity of the 

voluntary carbon markets?’’ The CFTC does 

not have statutory authority under the CEA 

to create a registration framework for market 

participants within voluntary carbon markets 

unless they engage in activities relating to 

derivatives. 

• Request no. 25 asks whether ‘‘digital 

assets and/or distributed ledger technology 

offer climate-related financial risk mitigating 

benefits?’’ The CFTC does not have statutory 

authority under the CEA to regulate digital 

assets or distributed ledger technology except 

to the extent they involve derivatives. 

• Request no. 27 asks whether there are 

‘‘any steps that the Commission should 

consider when assessing how the impact of 

climate change on the derivatives markets 

and/or underlying commodities markets, or 

proposed policy solutions to address such 

impact, may affect financially vulnerable 

populations?’’ The CFTC does not have 

authority under the CEA to take any 

regulatory steps with respect to underlying 

commodities markets, regardless of whether 

they affect financially vulnerable 

populations. 

• Request no. 30 asks what literature and 

research the Commission should consult 

‘‘related to climate risks as applicable to the 

derivatives markets, underlying commodities 

markets, registrants, registered entities, or 

other derivatives market participants?’’ As 

noted above, Congress has not provided the 

CFTC with regulatory authority in the CEA 

with respect to climate risks applicable to 

underlying commodities markets. 

I have no opposition to requesting the 

information we need to consider the 

implications of climate-related financial risk 

in fulfilling our mission under the CEA. But 

I am concerned that requesting information 

on matters over which the CFTC has no 

statutory authority and ignoring 

opportunities to ask questions of market 

participants already using our markets to 

hedge their climate exposure will not further 

the purported goal of this RFI. 

Appendix 5—Concurring Statement of 

Commissioner Caroline D. Pham 

I respectfully concur with the publication 

of the Request for Information (RFI) on 

Climate-Related Financial Risk in the Federal 

Register because it is imperative that the 

public has an opportunity to provide input 

and share expertise. 

In our work in this area, however, we must 

be mindful of our statutory mandate: 

oversight of the commodity derivatives 

markets.1 In particular, as the RFI recognizes, 

our markets are ‘‘affected with a national 

public interest’’ because they facilitate risk 

management and price discovery ‘‘through 

trading in liquid, fair and financially secure 

trading facilities.’’ 2 Further, as the RFI also 

recognizes, the Commodity Exchange Act 

mandates that the Commission serve this 

public interest through our oversight of ‘‘a 

system of effective self-regulation of trading 

facilities, clearing systems, market 

participants and market professionals,’’ and 

by deterring and preventing price 

manipulation and other disruptions to 

market integrity, ensuring the financial 

integrity of transactions in our markets, 

avoiding systemic risk, protecting market 

participants from ‘‘fraudulent or other 

abusive sales practices and misuses of 

customer assets,’’ and promoting 

‘‘responsible innovation and fair 

competition.’’ 3 This statutory mandate bears 

repeating because it makes clear that the 

Commission is a market regulator over our 

markets and products, market infrastructure, 

market integrity, market conduct, market 

participants, and market professionals. 

We are not, for instance, a prudential 

banking regulator like the Fed, OCC, or FDIC, 

nor are we a primarily disclosures-based 

market regulator like the SEC. Keeping our 

focus on our markets, products, and 

purpose—keeping our eyes on the ball—will 

help us avoid the risk of diluting our limited 

resources and potentially straying from our 

core expertise and responsibilities into areas 

already tasked to others. 

As we do our work on climate-related 

financial risks within our statutory 

authority—such as by fostering the 

development of new products and markets to 

manage physical risk and transition risk—we 

also should be thoughtful when considering 

the steps we take. Any actions that may 

impose new obligations and costs on our 

market participants, especially end-users that 

rely upon our markets for hedging, must be 

balanced and carefully considered. 

For registrants that have other regulators 

and are already subject to climate risk 

management frameworks, we should seek to 

harmonize from the start with existing 

prudential and other regulatory regimes in 

order to be efficient and avoid imposing 

duplicative or unnecessarily burdensome and 

complex requirements. 

And most importantly, I caution that for 

any potential future Commission action, we 

must take care to consider the impact on 

small entities and evaluate alternatives that 

would accomplish the objectives of any 

potential rule without unduly burdening the 

substantial numbers of growers, producers, 

and other end-users who depend on our 

markets for risk management and price 

discovery.4 That is, after all, the original 

purpose of our markets and the Commission. 

[FR Doc. 2022–12302 Filed 6–7–22; 8:45 am] 

BILLING CODE 6351–01–P 

CONSUMER PRODUCT SAFETY 

COMMISSION 

[Docket No. CPSC–2012–0058] 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Safety Standard for 

Walk-Behind Power Lawn Mowers 

AGENCY: Consumer Product Safety 

Commission. 

ACTION: Notice. 

SUMMARY: Pursuant to the Paperwork 

Reduction Act of 1995, the Consumer 

Product Safety Commission 

(Commission or CPSC) requests 

comments on a proposed extension of 

approval of a collection of information 

relating to testing and recordkeeping 

requirements in the Safety Standard for 

Walk-Behind Power Lawn Mowers, 

approved previously under OMB 

Control No. 3041–0091. CPSC will 

consider all comments received in 

response to this notice before requesting 

an extension of this collection of 

information from the Office of 

Management and Budget (OMB). 

DATES: Submit written or electronic 

comments on the collection of 

information by August 8, 2022. 

ADDRESSES: You may submit comments, 

identified by Docket No. CPSC–2012– 

0058, by any of the following methods: 


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Federal Register / Vol. 87, No. 110 / Wednesday, June 8, 2022 / Notices 34863 

1U.S. Bureau of Labor Statistics, ‘‘Employer Costs 

for Employee Compensation,’’ December 2021, 

Table 4. Private industry workers by occupational 

and industry group—2021 Q04 Results (bls.gov). 

Electronic Submissions: Submit 

electronic comments to the Federal 

eRulemaking Portal at: https://

www.regulations.gov. Follow the 

instructions for submitting comments. 

CPSC typically does not accept 

comments submitted by electronic mail 

(email), except as described below. 

CPSC encourages you to submit 

electronic comments by using the 

Federal eRulemaking Portal, as 

described above. 

Mail/Hand Delivery/Courier/ 

Confidential Written Submissions: 

Submit comments by mail, hand 

delivery, or courier to: Division of the 

Secretariat, Consumer Product Safety 

Commission, 4330 East-West Highway, 

Bethesda, MD 20814; telephone: (301) 

504–7479. If you wish to submit 

confidential business information, trade 

secret information, or other sensitive or 

protected information that you do not 

want to be available to the public, you 

may submit such comments by mail, 

hand delivery, or courier, or you may 

email them to: couscous;cpsc.gov. 

Instructions: All submissions must 

include the agency name and docket 

number. CPSC may post all comments 

without change, including any personal 

identifiers, contact information, or other 

personal information provided, to: 

https://www.regulations.gov. Do not 

submit through this website: 

confidential business information, trade 

secret information, or other sensitive or 

protected information that you do not 

want to be available to the public. If you 

wish to submit such information, please 

submit it according to the instructions 

for mail/hand delivery/courier/ 

confidential written submissions. 

Docket: For access to the docket to 

read background documents or 

comments received, go to: https://

www.regulations.gov, and insert the 

docket number, CPSC–2012–0058, into 

the ‘‘Search’’ box, and follow the 

prompts. 

FOR FURTHER INFORMATION CONTACT: 

Cynthia Gillham, Consumer Product 

Safety Commission, 4330 East-West 

Highway, Bethesda, MD 20814; (301) 

504–7991, or by email to: cgillham@

cpsc.gov. 

SUPPLEMENTARY INFORMATION: CPSC 

seeks to renew the following currently 

approved collection of information: 

Title: Safety Standard for WalkBehind Power Lawn Mowers. 

OMB Number: 3041–0091. 

Type of Review: Renewal of 

collection. 

Frequency of Response: On occasion. 

Affected Public: Manufacturers and 

importers of walk-behind power lawn 

mowers. 

Estimated Number of Respondents: 

Approximately 29 manufacturers and 

importers of walk-behind power lawn 

mowers. 

Estimated Time per Response: Walkbehind power lawn mowers are 

manufactured seasonally to meet 

demand. They are manufactured during 

an estimated 130 days out of the year. 

When they are manufactured, firms are 

required to test and maintain records of 

those tests. Staff estimates three hours 

daily for testing and recordkeeping per 

firm totaling 390 hours per firm (3 hours 

× 130 days). In addition, to produce 

labels and apply labels on the newly 

manufactured lawn mowers, staff 

estimates one hour daily for each firm 

during the production cycle for a total 

of 130 hours per firm (1 hour × 130 

days). 

Total Estimated Annual Burden: Staff 

estimates 11,310 hours on testing and 

recordkeeping (29 firms × 390 hours) 

and 3,770 hours for labeling (29 firms × 

130 hours). Aggregate annual burden 

hours related to testing, recordkeeping, 

and labeling are estimated to be 520 

hours (390 + 130) per firm and 15,080 

hours (11,310 + 3,770) for the industry. 

Annual testing, reporting and 

recordkeeping costs burden is estimated 

to be $796,224 based on 11,310 hours × 

$70.40 (total compensation for 

management, professional, and related 

workers in goods-producing industries) 

and annual cost burden related to 

labeling is estimated to be $132,628.60 

based on 3,770 hours × $35.18 (total 

compensation for all sales and office 

workers in goods-producing 

industries).1 Aggregate annual burden 

costs related to testing, recordkeeping, 

and labeling are estimated to be 

$928,852.60 ($796,224 + $132,628.60) 

for the industry. 

General Description of Collection: In 

1979, the Commission issued the Safety 

Standard for Walk-Behind Power Lawn 

Mowers (16 CFR part 1205) to address 

blade contact injuries. Subpart B of the 

standard sets forth regulations 

prescribing requirements for a 

reasonable testing program to support 

certificates of compliance with the 

standard for walk-behind power lawn 

mowers. 16 CFR part 1205, subpart B. 

In addition, section 14(a) of the CPSA 

(15 U.S.C. 2063(a)) requires 

manufacturers, importers, and private 

labelers of a consumer product subject 

to a consumer product safety standard 

to issue a certificate stating that the 

product complies with all applicable 

consumer product safety standards. 

Section 14(a) of the CPSA also requires 

that the certificate of compliance must 

be based on a test of each product or 

upon a reasonable testing program. The 

information collection is necessary 

because these regulations require 

manufacturers and importers to 

establish and maintain records to 

demonstrate compliance with the 

requirements for testing and labeling to 

support the certification of compliance. 

Request for Comments 

The CPSC solicits written comments 

from all interested persons about the 

proposed collection of information. The 

CPSC specifically solicits information 

relevant to the following topics: 

—Whether the collection of information 

described above is necessary for the 

proper performance of the CPSC’s 

functions, including whether the 

information would have practical 

utility; 

—Whether the estimated burden of the 

proposed collection of information is 

accurate; 

—Whether the quality, utility, and 

clarity of the information to be 

collected could be enhanced; and 

—Whether the burden imposed by the 

collection of information could be 

minimized by use of automated, 

electronic or other technological 

collection techniques, or other forms 

of information technology. 

Alberta E. Mills, 

Secretary, Consumer Product Safety 

Commission. 

[FR Doc. 2022–12323 Filed 6–7–22; 8:45 am] 

BILLING CODE 6355–01–P 

DEPARTMENT OF DEFENSE 

Department of the Navy 

Notice of Intent To Prepare an 

Environmental Impact Statement for 

Bremerton Waterfront Infrastructure 

Improvements, Bremerton, Kitsap 

County, WA, and To Announce a 

Virtual Public Scoping Meeting 

AGENCY: Department of the Navy (DON), 

Department of Defense (DoD). 

ACTION: Notice. 

SUMMARY: Pursuant to the National 

Environmental Policy Act (NEPA) of 

1969, as implemented by the Council on 

Environmental Quality Regulations, the 

Department of the Navy (DON) 

announces its intent to prepare an 

Environmental Impact Statement (EIS) 

to evaluate the potential environmental 

impacts associated with construction, 

modification, replacement, demolition, 


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