industry
Not specified
Location
California
Status
Pending rulemaking
Overview
During the 2023 session of the California State Legislature, SB-253 Climate Corporate Data Accountability Act was passed and signed into law. This law requires certain companies to disclose their greenhouse gas emissions annually. It affects companies “doing business in California,” a phrase with which many companies will need to become familiar. During the 2024 Legislative session, SB-219 was passed and signed into law as well. This bill amends the timeline for implementation of SB-253 by giving the California Air Resources Board (CARB) six more months to promulgate the necessary regulations.
Requirements
Disclose scope 1, scope 2, and scope 3 emissions
Affected Companies
Revenue thresholds
Companies with total annual revenues in excess of USD 1 billion
Company size
Not defined
Company Type
Publicly listed and private
Geography
Companies doing business in California
industry
Not specified
Status:
timeline for compliance
Frameworks for reporting are to be published by CARB by July 1, 2025. Scope 1 and scope 2 reporting is to begin in 2026, on or by a date to be determined by CARB, and annually thereafter on or by that date. Scope 3 reporting is to begin in 2027 and annually thereafter, on a schedule specified by CARB.
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