California Governor Gavin Newsom has signed a new legislation that will require large companies operating in the state to disclose their greenhouse gas emissions by 2026. The measure, sponsored by Senator Scott Weiner, applies to both private and public companies with annual revenues exceeding $1 billion and mandates reporting of both direct and indirect emissions.
According to Newsom, this policy showcases California’s ongoing commitment towards addressing the climate crisis through transparent information disclosure. However, he also acknowledges that the implementation deadlines outlined in the bill may be challenging for businesses to meet and could result in inconsistent reporting practices. As such, he has directed his administration to work closely with Senator Weiner and other lawmakers next year to address these concerns.
Moreover, Newsom is also mindful of the potential financial impact on businesses due to this new requirement. He has instructed CARB (California Air Resources Board) – which will oversee compliance -to carefully monitor costs associated with implementing this bill and make recommendations for streamlining processes if necessary.
This latest development highlights California’s proactive approach towards tackling environmental issues while emphasizing transparency as a key driver for meaningful action against climate change.
