Measure signed into law by Gavin Newsom on Saturday is strong blueprint for national climate accountability, experts say
A groundbreaking California law will force large companies doing business in the state – including major global corporations – to disclose their planet-heating carbon emissions.
The measure, signed into law by the governor, Gavin Newsom, on Saturday, will be the nation’s first of its kind, serving as a blueprint for national climate accountability.
It comes as federal regulators have dragged their feet on crafting similar rules, which could be finalized this month.
SB 253 will require California regulators to create rules by 2025 for public and private companies whose annual revenues exceed $1bn. That affects about 5,300 corporations, including Chevron, Wells Fargo, Amazon and Apple.
I wonder if they’ll be allowed to include their “offsets” in the final calculation. The “offsets” are just a math trick that represents potential change in a very specific hypothetical and doesn’t actually represent any good being done. In other words, releasing a million parts carbon, then planting a million trees in one park, is not a net zero on the earth
If they are allowed, they would probably be required to itemize it so the offsets can be verified separate from the emissions.
I’m unaware of a federal legal standard around that so I kind of doubt it.