"One bill — already approved by the [California State] Senate — would force about 5,300 #US corporations earning more than $1 billion and doing business in #California to annually report their global [greenhouse gas] #emissions that contribute to #ClimateChange.
Another bill that won Senate approval would require more than 10,000 companies with revenues exceeding $500 million to detail how climate change poses #FinancialRisks to their [worldwide] #operations."
If passed, this legislation would give everyone (inside and outside #California) insight on the #emissions of the companies we buy our stuff from.
No wonder companies are scared, and pushing back.
Californians, call your reps!
"The laws would inevitably lead to highly publicized “top polluters” lists that make major corporations more accountable — and uncomfortable — since their full role in causing climate change and its impact on their finances would be exposed."
"California's state Senate on Tuesday approved a bill requiring large companies to report their #carbon footprints, sending the bill to Governor Gavin Newsom."
Californians, time to call your Governor. Even if he's inclined to sign these bills, it's still good to know you got his back on this.
"Big banks are bracing for a sweeping new climate law in California that would for the first time force them to calculate and disclose carbon emissions tied to lending. "
If these bills pass all the hurdles - and of course it will be taken to court - California will have caused a financial earthquake that will reverberate around the planet.
"Julie Gorte, SVP sustainable investing at Impax Asset Management, says, “What the #investment community is working at doing is pricing #ClimateRisk. We need real assurance by 2030 … If [a company has] higher #emissions, they’re at greater risk and I’m going to need a premium” to own such companies."
Gov. Newsom signed the two climate disclosure bills.
But there's a lot more:
"[#California] elected officials had approved a whole bunch of #ClimateChange, #energy and environment bills — and rejected others. Here’s a brief roundup of some of the highest-profile legislation."
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