TL;DR for the CAbudget: lynnlaaa breaks down the winners and losers in California's budget deal
would require more than 10,000 companies with $500 million in annual revenue to prepare reports on how climate change poses financial risks to their operations in California and globally.— from Bank of America to McDonalds. The end goal is to provide a more complete picture of carbon emissions, according to the legislators who introduced the bills.author of SB 253: “This is basic transparency.
The California’s Chamber of Commerce and industry groups oppose the measures, arguing that the numbers could be inaccurate. Businesses are required to report their emissions and energy use from both their direct operations and from less direct sources, such as their supply chains. This could lead to duplicate data points and result in misinformation and misguided public policy.
Generating reports is also costly, complex and laborious — smaller or mid-sized businesses risk losing contracts with larger corporations because they might not have a full account of their own emissions., CalChamber lobbyist: “Reporting regimes are kind of the wild west of the climate policy world. These reports aren’t free, it’s not like you just get to press ‘control P’ and have a report.
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