🧵 1. California Governor Newsom pledges to sign legislation requiring large companies to disclose their carbon footprints, potentially ahead of federal regulators. #politics
🧵 1. California Governor Newsom pledges to sign legislation requiring large companies to disclose their carbon footprints, potentially ahead of federal regulators. #politics
🧵 2. The bill, approved by the State senate, mandates emissions disclosure for companies earning more than $1B/year in California. This includes complex Scope 3 emissions linked to supply chains and end-users.
🧵 3. Multinational companies like Apple and Microsoft have voiced support, while the Chamber of Commerce argues the legislation would increase costs and paperwork.
🧵 4. Despite potential legal challenges, Newsom remains committed to signing the bill. Securities and Exchange Commission guidance is still pending.
🧵 5. Last week, California sued major oil companies for allegedly downplaying the risks of fossil fuels. The state continues its efforts to address climate change and hold businesses accountable.
🧵 Read more at: https://www.reuters.com/sustainability/california-governor-says-he-will-sign-climate-bill-2023-09-18/