By The Financial District
Aug 29, 20231 min
It’s been more than two years since a California lawmaker introduced a bill requiring big corporations to report their greenhouse gas emissions, Aaron Cantu reported for Capitol & Main, but the bill died legislature last year after failing by one vote.
The Climate Corporate Data Accountability Act, carried by Sen. Scott Wiener (D-San Francisco), would force big companies to report their emissions to the California Air Resources Board. I Photo: Scott Wiener Facebook
Now, the bill could fail anew thanks to a handful of Democrats.
The Climate Corporate Data Accountability Act, carried by Sen. Scott Wiener (D-San Francisco), would force big companies to report their emissions to the California Air Resources Board.
The paucity of information on supply-chain emissions means we know only a fraction of the global economy’s climate impacts, undermining the public’s knowledge of the crisis.
But under SB 253, thousands of public and private companies — about 5,300 — would report the full scope of their climate pollution, many for the first time. That includes brands like Walmart and Costco and firms that generate at least $1 billion in revenue and operate in the state.
And if SB 253 becomes law in California, reportedly the largest sub-national economy in the world, it could contribute to a wave of transparency regulations and pressure firms to cut their emissions.
But business interests, including the oil and gas lobby, are aligned to sink the California legislation. To pull that off, they would need the help of Democrats.