Any company that meets the revenue threshold and sells or produces goods or services in California would have to comply, including such large, global corporations as varied as Amazon, Chevron, McDonalds, Kroger and Walmart.
Under the bill, the emissions disclosures would have to be independently verified by an outside consultant, “an independent third-party assurance provider.”The aim of the legislation is to hold large companies accountable for the role they play in climate change. For years, many businesses have marketed themselves as environmental stewards while failing to fully disclose their emissions.
, a Democrat from San Francisco who authored the bill, said in a statement Tuesday. “We need strong transparency to create a level playing field among private and public companies. Once again, California is leading the nation on essential climate action.”Economic activity has long been the principal driver of the world’s changing climate, and for the last two decades, organizations have sought uniform standards for reporting corporations’ greenhouse gas emissions.
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