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California Gov. Gavin Newsom says he will sign climate-focused transparency laws for big business

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California Gov. Gavin Newsom says he plans to sign into law a pair of climate-focused bills intended to force major corporations to be more transparent about greenhouse gas emissions and the financial risks stemming from global warming

Such disclosures are a “simple but intensely powerful driver of decarbonization,” said the bill’s author, state Sen. Scott Wiener, a Democrat.

Under the law, thousands of public and private businesses that operate in California and make more than $1 billion annually will have to make the emissions disclosures. The goal is to increase transparency and nudge companies to evaluate how they can cut their carbon emissions.approved last week by the state Assembly requires companies making more than $500 million annually to disclose what financial risks climate change poses to their businesses and how they plan to address those risks.

 

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