The Biden administration will propose a new rule requiring federal contractors to set emissions reductions consistent with the Paris Agreement, the Washington Post reports. The rule would apply to suppliers of the world’s biggest purchaser of goods and services and if adopted would have substantial ripple effects across the U.S. supply chain. The administration will formally announce the rule today and will tout it on Friday when Biden attends COP27.

Buoyed by Democrats’ better-than-expected results in the midterm elections earlier this week, Biden is expected to tout U.S. climate action, especially the passage of the Inflation Reduction Act. He will also likely face pressure from developing and wealthy nations to increase U.S. climate aid and fulfill its fair share of the overdue annual global $100 billion climate-finance pledge. President Macron of France called on the U.S. (though not explicitly by name) to “pay your fair share” in helping aid poorer countries earlier this week.

An analysis published Monday by Carbon Brief found the U.S. is contributing just 19% of its “fair share” of climate aid relative to its historic greenhouse gas pollution — the lowest of any major historical polluter, all of which are also giving far below their fair share. “To be frank, we are not expecting anything from President Biden,” lead negotiator for an African bloc of nations Richard Sherman told the New York Times. “[The United States] tend to promise a lot, pledge a lot, but deliver very little.”

The proposed rule would apply to firms with between $7.5 million and $50 million, covering about 85% of federal supply chain emissions, in annual contracts and would require public disclosure of Scope 1 and Scope 2 emissions. (Federal contractor rule: Washington Post $, Washington Post $; Biden at COP: New York Times $; Carbon Brief analysis: TIME)

[This story corrects an earlier version on the timing of the administration’s announcement of the proposed rule. — Ed.]