California has long been a trailblazer in the fight against climate change. The state is known for its stringent environmental regulations and ambitious clean energy goals. The latest mandate, set to be one of the most comprehensive in the world, seeks to hold companies accountable for their contribution to greenhouse gas emissions, which are a primary driver of global warming and climate disruption.

The new climate regulations in California, which will have an influence on the entire world, require business giants like Exxon, Apple, and others to publish all of their emissions.

The latest mandate, set to be one of the most comprehensive in the world, seeks to hold companies accountable for their contribution to greenhouse gas emissions, which are a primary driver of global warming and climate disruption.

In the near future, a new regulation is set to require both public and private corporations conducting business in California to meticulously track and report their greenhouse gas emissions, encompassing emissions from their operations, supply chains, transportation, and indirect sources such as purchased electricity and heat from utilities.

This data collection is vital for understanding each company’s carbon footprint. Comprehensive reporting is of paramount importance for various reasons. It enhances transparency by accurately tracking emissions from multiple sources, aiding stakeholders, investors, and the public in evaluating a company’s commitment to sustainability. Moreover, it fosters accountability, prompting corporations to adopt greener practices and more responsible emissions reduction.

This data also informs policy formation, aiding policymakers in designing effective climate change mitigation strategies and future sustainability-focused regulations and incentives. Additionally, comprehensive emission reporting bolsters consumer and investor confidence in a company’s environmental responsibility, and California’s influential role as an economic hub can inspire global adoption of similar measures, creating a far-reaching impact.

On October 7, 2023, two new laws were approved by California Governor Gavin Newsom. Companies with yearly revenues of $1 billion or more in the United States will be required to report both their direct and indirect greenhouse gas emissions beginning in 2026 and 2027 under the new Climate Corporate Data Accountability Act. The California Chamber of Commerce argued against the regulation because it would raise costs for businesses. However, the rule was supported by more than a dozen significant businesses, including Microsoft, Apple, Salesforce, and Patagonia.

SB 261, Stern. Greenhouse gases: climate-related financial risk.

The California Global Warming Solutions Act of 2006 requires the State Air Resources Board to adopt regulations to require the reporting and verification of statewide greenhouse gas emissions and to monitor and enforce compliance with the act. The act requires the state board to make available, and update at least annually, on its internet website the emissions of greenhouse gases, criteria pollutants, and toxic air contaminants for each facility that reports to the state board, as provided.

SB 253, Wiener. Climate Corporate Data Accountability Act.

The California Global Warming Solutions Act of 2006 requires the State Air Resources Board to adopt regulations to require the reporting and verification of statewide greenhouse gas emissions and to monitor and enforce compliance with the act. The act requires the state board to make available, and update at least annually, on its internet website the emissions of greenhouse gases, criteria pollutants, and toxic air contaminants for each facility that reports to the state board, as provided.
This bill would require the state board, on or before January 1, 2025, to develop and adopt regulations requiring specified partnerships, corporations, limited liability companies, and other business entities with total annual revenues in excess of $1,000,000,000 and that do business in California, defined as “reporting entities,” to publicly disclose to the emissions reporting organization, as defined, and obtain an assurance engagement on, starting in 2026 on a date to be determined by the state board, and annually thereafter, their scope 1 and scope 2 greenhouse gas emissions, as defined, and, starting in 2027 and annually thereafter, their scope 3 greenhouse gas emissions, as defined, from the reporting entity’s prior fiscal year, as provided.

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