New California Climate Law Pulls In Private Companies
Companies not subject to the SEC’s proposed carbon reporting regime might be surprised to find the Golden State expects them to track emissions
Oct 12, 2023 4:00 PM ET
Previously published by the Wall Street Journal
California is poised to force many private businesses to report on carbon emissions, dramatically increasing the number of U.S. companies that could be subject to some kind of U.S. climate reporting.
Gov. Gavin Newsom on Sunday said he would sign landmark legislation that would require businesses, including those privately held, to begin reporting on emissions if they operate in California and have at least $1 billion in revenue. In addition to their direct emissions, those businesses would have to account for emissions by suppliers and customers, so-called “Scope 3” emissions that are considered more nebulous and difficult to pin down.
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