In an ESG Investor article, Michael Littenberg, partner and global head of ESG, CSR and business and human rights practice, discussed climate disclosure legislation passed in California.
The Act would require U.S. companies with total annual revenues in excess of $1 billion that do business in California to annually report on greenhouse gas emissions, starting as soon as 2026.
In some respects, the California Act is broader than the SEC's climate disclosure proposal. The California Act would require companies to provide information on Scope 3 emissions, including greenhouse gas emissions generated by suppliers and customers.
Michael notes the availability of timely Scope 3 data, despite flexibility within the California law, remains a question.
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