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California lawmakers on Tuesday passed a bill that would require major companies doing business in the state to disclose all emissions related to both their operations and their supply chain.
The Senate passed the bill and sent the bill to the governor Gavin Newsom, who has not yet taken a position on the bill but will decide on October 14 whether to sign it.
The bill would require companies with annual revenues of $1 billion or more operating in California to calculate and report a wide range of emissions, including indirect or Scope 3 emissions — which opponents said would be virtually impossible to to measure this accurately.
The measure would go beyond the SEC’s currently proposed climate disclosure rule, which requires only Scope 3 disclosures under certain circumstances.
The California bill was supported by several major companies, including Apple (AAPL), Google (GOOG) (GOOGL), Microsoft (MSFT) and Salesforce (CRM), but was fiercely opposed by the state’s Chamber of Commerce.
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