California Carbon Emissions Disclosure Mandate

California's legislature passed Senate Bill 253 in September 2023, which was signed by Governor Newsom in October. It will require companies with over $1 billion in revenues that do business in the state (including foreign companies) to disclose all greenhouse-gas emissions associated with their operations, including Scope 3 emissions. Disclosure of Scope 1 and Scope 2 emissions will begin in 2026, and Scope 3 emissions will begin in 2027. Companies can be fined up to $500,000 per reporting year if they fail to comply . . .

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