California Governor to Sign Landmark Climate Disclosure Bill

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https://www.nytimes.com/2023/09/17/climate/california-climate-disclosure-law.html

By Coral Davenport, The New York Times. 

Excerpt: Gov. Gavin Newsom of California said that he would sign a landmark climate bill that passed the state’s legislature last week requiring major companies to publicly disclose their greenhouse gas emissions, a move with national and global repercussions. The new law will require about 5,000 companies to report the amount of greenhouse gas pollution that is directly emitted by their operations and also the amount of indirect emissions like employee travel, waste disposal and supply chains. Climate policy advocates have long argued that such disclosures are an essential first step in efforts to harness financial markets to rein in planet-warming pollution. For example, when investors are made aware of the climate-warming impacts of a company, they may choose to steer their money elsewhere. The law would apply to public and private businesses that make more than $1 billion annually and operate in California. But because the state is the world’s fifth-largest economy, California often sets the trend for the nation, and many of the affected businesses are global corporations.... 

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