Emissions Disclosure Bills Introduced in New York and New Jersey
Legislation that mirrors California’s landmark Climate Corporate Data Accountability Act (CA SB 253) has been introduced in New York (NY S 9072) and New Jersey (NJ S 679). If enacted, the bills would mandate companies with revenues that exceed $1 billion and that do business in the respective state annually report their scope 1, scope 2, and scope 3 emissions. Scope 1 emissions are direct emissions from a company’s owned or controlled sources, while Scope 2 emissions are indirect emissions from generating a company’s purchased energy. Scope 3 emissions are all indirect emissions that occur throughout a company’s value chain.
As ISPA previously reported, California’s Climate Reporting deadlines for affected companies are approaching fast despite legal and regulatory uncertainty. Despite challenges to California’s law, other states remain interested in enacting similar emissions disclosure mandates for large companies.
