'These two first-in-the-nation bills will provide unprecedented insight into corporate climate emissions and financial climate risk,' said one advocate.
"These two first-in-the-nation bills will provide unprecedented insight into corporate climate emissions and financial climate risk," said one advocate.Climate advocates expressed hope Monday that California Gov. Gavin Newsom would help usher in a new era of accountability for corporate polluters nationwide after he confirmed plans to sign legislation forcing companies to publicly disclose their climate-related risks and more complete accounting of their total emissions.
Newsom said he also plans to sign S.B. 261, which would require companies in California to submit climate-related risk reports, detailing costs for increased compliance and insurance. Scope 1 emissions refer to those caused directly by a company as it runs machinery to make its products, while scope 2 emissions are those created by products or equipment that a company purchases, such as fossil fuel-generated energy for its facilities.often overlookedRequiring the accounting of all emissions in a company's supply chain, said California Environmental Voters, "is nothing short of historic.
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