California will soon require big businesses to report a wide range of greenhouse gas emissions
SACRAMENTO, Calif. — — Large businesses in California will have to disclose a wide range of planet-warming emissions under a new law Gov. Gavin Newsom signed Saturday —
But the California Chamber of Commerce, agricultural groups and oil giants that oppose the law say it will create new mandates for companies that don't have the experience or expertise to accurately report their indirect emissions. They also say it is too soon to implement the requirements at a time when theThe measure could create “duplicative” work if the federal standards are adopted, the chamber and other groups wrote in an alert opposing the bill.
Major companies, including Apple and Patagonia, came out in support of the bill, saying they already disclose much of their emissions. Christiana Figueres, a key former United Nations official behind the 2015 Paris climate agreement, said in a letter that the bill would be a “crucial catalyst in mobilizing the private sector to solve climate change.”
The federal rules, proposed by the U.S. Securities and Exchange Commission, would require major public companies to report their emissions and how climate change poses a financial risk to their business.
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