California’s leading business group Tuesday put forth highly anticipated proposed amendments to the state’s nation-leading corporate emissions disclosure law in a letter to Gov. Gavin Newsom.
The California Chamber of Commerce, Alliance for Automotive Innovation, Truck and Engine Manufacturers Association and other state and national groups proposed amending SB 253, last year’s law requiring large corporations operating in the state to disclose their greenhouse gas emissions.
The business coalition argued in the letter that the law is too costly and burdensome, especially its requirement to disclose emissions related to a company’s full value chain, known as Scope 3 emissions.
The law is the only one in the nation to require Scope 3 emissions disclosure, after the Securities and Exchange Commission’s decision not to include Scope 3 requirements in its federal climate risk disclosure rule earlier this year. CalChamber has been signaling its desire for “cleanup” legislation since Newsom signed the law, and Newsom himself cited cost and implementation concerns in his signing statement.
