Do you know and understand your company’s carbon footprint? Do you do business in California? If you answered yes to these questions, then now is the time to start paying attention to California’s new climate laws:
- The Climate Corporate Data Accountability Act (SB 253) will require public and private US businesses with revenues over $1 billion that do business in California to report their Scopes 1, 2, and 3 greenhouse gas emissions. The bill mandates third-party assurance on reported emissions.
- The Climate-Related Financial Risk Act (SB 261) will require large corporations to prepare and submit an annual report that publicly discloses their climate-related financial risks and the measures they’re taking to mitigate these risks.
While your company may have less than $1 billion in annual revenues, if you are a supplier to these companies, or are a part of these larger companies value chain (Scope 3 emissions), then it is important that you begin measuring your carbon footprint now because reporting requirements will begin in 2026, and as a member of these larger companies Scope 3 emissions, they will be asking you for your Scope 1 & 2 emissions.
If your company needs help in measuring and reducing your greenhouse gas emissions, contact us today to learn more about our Carbon Management Services!