The Center Square
Oct 11, 2023
California Governor Gavin Newsom signed a new bill into law that will require expensive counting and reporting of all greenhouse emissions for all larger companies, even from their contractors.
Critics say the costs and complexity of such reporting will drive larger companies to stop doing business with smaller companies that can’t afford such protocols, and encourage vertical integration of supply chains.
“When business leaders, investors, consumers, and analysts have full visibility into large corporations’ carbon emissions, they have the tools and incentives to turbocharge their decarbonization efforts,” Sen. Scott Wiener, D-San Francisco, said in a public statement celebrating the bill.
“This legislation will support those companies doing their part to tackle the climate crisis and create accountability for those that aren’t. I applaud the Governor’s bold climate leadership — the planet needs more climate champions like Gavin Newsom.”
The law requires stringent reporting of all emissions from the company, its subsidiaries, and every source of indirect emissions from up and down the value chain.
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#California