California Governor Gavin Newsom Commits to Signing Climate-Focused Transparency Laws for Major Corporations
☀️ California Governor Gavin Newsom Commits to Signing Climate-Focused Transparency Laws for Major Corporations.
California Governor Gavin Newsom has announced his intention to sign two climate-focused bills into law. These bills aim to increase transparency among major corporations regarding their greenhouse gas emissions and the financial risks associated with climate change. The first bill requires large businesses, including oil and gas companies and retail giants, to disclose both their direct greenhouse gas emissions and those resulting from activities like employee business travel. The goal is to encourage companies to assess and reduce their carbon emissions. The second bill mandates that companies with annual revenues exceeding $500 million disclose the financial risks posed by climate change and their plans to address these risks. This information is expected to be valuable for investors and lawmakers when making decisions about public and private investments. California aims to lead the way in addressing the climate crisis, and these bills are seen as important steps in that direction.
Two years ago, California lawmakers quietly passed a complex energy bill that transformed how residents are billed for electricity.