California Air Resources Board

Summary 

Would have required, beginning January 1, 2025, and annually thereafter, a covered corporation to disclose to CARB and the Secretary of State specified information, including risks of climate change. The bill would have required CARB to establish climate-related disclosure guidance, including reporting standards for reporting and disclosing greenhouse gas emissions. Was not heard in the Assembly Natural Resources Committee.

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Summary

Would require CARB to develop and adopt, prior to January 1, 2024, regulations to establish greenhouse gas emissions reporting standards and disclosure requirements for “covered corporations” whose annual revenues exceed $100,000,000, are located in the State, and are a publicly traded domestic or foreign corporation. The bill also would require CARB to develop and adopt regulations on the same timeframe to require disclosure of the potential financial impacts of, and any risk management strategies relating to the physical and transition risks associated with climate change, establish a minimum social cost of carbon, and develop climate scenario analyses. The bill would require “covered corporations” to provide its disclosures and report annually beginning January 1, 2025, and annually thereafter. Was not heard in the Assembly Natural Resources Committee.

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Summary

Spot bill related to the requirement for CARB to consult with other governments and nations to identify the most effective strategies and methods to reduce greenhouse gases.  Remains at the Assembly Desk.

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