Newsom To Sign Climate Transparency Laws For Big Business
California Governor Gavin Newsom has announced his intention to sign into law a pair of climate-focused bills designed to compel major corporations to be more transparent regarding their greenhouse gas emissions and the financial risks associated with global warming.
The law applies to public and private businesses operating in California with annual revenues exceeding $1 billion. I Photo: Governor Gavin Newsom X
This news was reported by the Associated Press (AP) during Governor Newsom's trip to New York's Climate Week, where leaders from the worlds of business, politics, and the arts have gathered to explore solutions for climate change.
Last week, California lawmakers passed legislation that mandates large businesses, ranging from oil and gas companies to retail giants, to disclose both their direct greenhouse gas emissions and those resulting from activities like employee business travel.
The bill's author, Democratic state Senator Scott Wiener, described such disclosures as a "simple but intensely powerful driver of decarbonization." Wiener emphasized that this legislation will support companies actively addressing the climate crisis while holding others accountable for their actions.
The law applies to public and private businesses operating in California with annual revenues exceeding $1 billion. Its objective is to enhance transparency and encourage firms to assess ways in which they can reduce their carbon emissions.