California Governor Gavin Newsom plans to sign legislation that would require large companies to disclose their carbon footprints, potentially surpassing federal regulators in managing corporate climate risks. The bill, already approved by the state senate, mandates emissions disclosure for companies earning over $1 billion annually in California. It includes measuring Scope 3 emissions related to supply chains and end-users. While facing opposition from business groups, the bill has gained support from companies like Apple and Microsoft. Legal challenges are possible, but the bill is expected to be signed by Governor Newsom soon, aligning with the state’s climate goals.
Resource: https://esgnews.com/california-governor-agrees-to-sign-climate-bill-on-companies-and-carbon-footprints/