SACRAMENTO – The Assembly Natural Resources Committee passed Senator Scott Wiener’s (D-San Francisco) Senate Bill 253, the Climate Corporate Data Accountability Act — a first-in-the-nation measure requiring carbon disclosures from large corporations that do business in California. Last week, Salesforce and Microsoft both announced their support of the bill, showing that many corporations welcome its climate transparency requirements. It passed 8-3 and heads next to the Assembly Appropriations Committee.
“Transparency is critical for California and the nation to meet our climate goals,” said Senator Wiener. “These common sense disclosures are a critical step for corporations to lead on tackling the climate crisis, as so many have committed to do. Many corporations already disclose their greenhouse gas emissions, including Scope 3, and this proposal delivers much-needed consistency while backstopping efforts the SEC is taking at the federal level.”
SB 253 is a first-in-the nation measure to require all large corporations that do business in California to publicly disclose their greenhouse gas (emissions) in line with the Greenhouse Gas Protocol, the longstanding gold accounting standard established by the environmental and business communities. These disclosures will include corporate supply chains (scope 3), which can include in excess of 90% of a corporation’s carbon emissions. By requiring this disclosure, the public, investors, and others will better understand which corporations are walking the talk when it comes to climate action.
Last year, this bill passed the Senate and came within one vote of passage on the Assembly floor, despite intense corporate lobbying against it. This year, the coalition supporting the bill is even bigger and more diverse, including Ceres — a coalition of corporations focused on sustainability — coming on as a co-sponsor.
The Climate Corporate Data Accountability Act is sponsored by EnviroVoters, Ceres, the Greenlining Institute, Sunrise Bay Area, and Carbon Accountable.
Read more about SB 253 here:
- California could mandate emissions disclosure even if the SEC doesn’t (Washington Post, May 25th)
- The Fight to Expose Corporations’ Real Impact on the Climate (WIRED, March 24th)
- A push for corporate climate disclosures in California could influence rest of U.S. (Marketplace, March 3rd)