Please ensure Javascript is enabled for purposes of website accessibility
California Climate Bill Would Make Companies Disclose Emissions
gvw_ap_news
By Associated Press
Published 2 years ago on
January 31, 2023

Share

Getting your Trinity Audio player ready...

Democratic lawmakers in California introduced a package of climate bills Monday aimed at holding corporations accountable for their greenhouse gas emissions.

The bills include legislation to require companies to disclose their greenhouse gas emissions to the public, ban the state’s public pension funds from investing in major fossil fuel companies, and create a group to analyze climate-caused financial risks for corporations. Similar efforts in prior sessions have failed to win enough support, but the Democratic lawmakers behind them say they’re hopeful for a different outcome this year.

The policy group California Environmental Voters came out in support of the bills, saying the state has the opportunity to serve as a model for increasing transparency by companies regarding their emissions.

Last year, California Democrats passed bills focused on banning new oil and gas wells near homes and schools, establishing guidelines for capturing and storing carbon, and committing to expanding renewable energy sources. Democratic Gov. Gavin Newsom has pushed policies to wean the state off oil and gas within the next few decades, including by banning the sale of most new gas-powered cars by 2035 and ending the controversial practice of fracking.

U.S. corporations that bring in at least $1 billion in revenue and do business in California would have to annually report their greenhouse gas emissions to the public under a bill re-introduced by Sen. Scott Wiener, a San Francisco Democrat. It fell one vote short of passing in the Assembly last year after passing in the Senate.

Wiener said he’s hopeful groups that opposed it last year will have a more open mind, adding that “our coalition is bigger and stronger.”

“We know there are corporations that want to do the right thing, and we want to support them,” Wiener said at a news conference Monday.

Wiener said lawmakers previously worked with the California Chamber of Commerce, a group also known as CalChamber that opposed his bill last year, to make improvements.

CalChamber President Jennifer Barrera said in a statement that lawmakers should take into account “unnecessary costs and regulatory hurdles” when proposing climate legislation.

“We look forward to working with policy makers to enact meaningful policies that protect jobs, encourage innovation and maintain growth,” Barrera said.

Democratic Sen. Lena Gonzalez, of Long Beach, introduced a bill aimed at prohibiting the California Public Employees’ Retirement System and the California State Teachers’ Retirement System from investing in the largest fossil fuel companies, including oil, gas and coal producers. A similar bill last year passed in the Senate but didn’t get a hearing in the Assembly.

“I’m hopeful that this year with the new makeup of the Assembly, with more coalition and with more emphasis on this crisis that we can actually get this done,” Gonzalez said.

Democratic Sen. Henry Stern, who represents part of Los Angeles County, introduced a bill that would create a group to review financial risks of climate change reported by companies.

He said the three bills will help the state support corporations committed to fighting climate change and hold accountable those that aren’t.

The Western States Petroleum Association declined to comment Monday.

RELATED TOPICS:

DON'T MISS

Fresno Sued Over Its Enforcement of Its Candidate Fundraising Law

DON'T MISS

Trump Agrees to a ‘Women’s Issues’ Event on Fox News, but Shuns Debate

DON'T MISS

Bulldogs vs Cougars: Players to Watch; Mountain West Matchups

DON'T MISS

What to Stream: Jelly Roll, ‘Beetlejuice Beetlejuice,’ Cate Blanchett and Charli XCX Remixes

DON'T MISS

How Harris Can Finish Strong

DON'T MISS

Did Bitwise’s Soberal Apologize? Attorneys Ask For Sentencing Delay

DON'T MISS

Trump Aides Sought Enhanced Security for Closing Stages of Campaign

DON'T MISS

Rescuers Search for Survivors After Strikes Rock Central Beirut

DON'T MISS

Minnesota Lynx Stun New York Liberty With Overtime Win in Game 1 of WNBA Finals

DON'T MISS

K-12 Reading and Math Scores Inch Up, but Still Below Pre-Pandemic Levels

UP NEXT

California Pledged $500 Million to Help Tenants Preserve Affordable Housing. They Didn’t Get a Dime.

UP NEXT

$20K Reward Offered After Sea Lion Found With Fatal Gunshot Wound on California Beach

UP NEXT

TD Bank to Pay $3 Billion in Historic Money-Laundering Settlement With the Justice Department

UP NEXT

5 Dead After Small Plane Crashes Near Catalina Island, Authorities Say

UP NEXT

Read This Before Voting on Prop. 35, Which Promises Billions for Health Care

UP NEXT

California Fires Scorch Over 1 Million Acres in 2024, Destroying Nearly 1,500 Structures

UP NEXT

She Lost Job After Talking to State Auditors. She Just Won $8.7M in Whistleblower Case.

UP NEXT

McDonald’s Sues Top Meat Packers for Allegedly Colluding to Inflate the Price of Beef

UP NEXT

Investigation Finds Widespread Discrimination Against Section 8 Tenants in California

UP NEXT

Stock Market Today: Wall Street Holds Firmer After Hong Kong Stocks Fall to Worst Day Since 2008

What to Stream: Jelly Roll, ‘Beetlejuice Beetlejuice,’ Cate Blanchett and Charli XCX Remixes

2 hours ago

How Harris Can Finish Strong

2 hours ago

Did Bitwise’s Soberal Apologize? Attorneys Ask For Sentencing Delay

2 hours ago

Trump Aides Sought Enhanced Security for Closing Stages of Campaign

3 hours ago

Rescuers Search for Survivors After Strikes Rock Central Beirut

3 hours ago

Minnesota Lynx Stun New York Liberty With Overtime Win in Game 1 of WNBA Finals

3 hours ago

K-12 Reading and Math Scores Inch Up, but Still Below Pre-Pandemic Levels

3 hours ago

18-Year-Old Macklin Celebrini Scores a Goal in His Hyped Debut for the Sharks

3 hours ago

Yankees’ Chisholm Accuses Royals’ Garcia of Trying to Hurt Teammate in ALDS Win

4 hours ago

Brock Purdy Throws for 3 TDs as 49ers Beat Seahawks to Move Atop Division

4 hours ago

Fresno Sued Over Its Enforcement of Its Candidate Fundraising Law

A group of former Fresno candidates are challenging an interpretation of a city law on when candidates can raise funds. A court filing Oct. ...

56 mins ago

56 mins ago

Fresno Sued Over Its Enforcement of Its Candidate Fundraising Law

1 hour ago

Trump Agrees to a ‘Women’s Issues’ Event on Fox News, but Shuns Debate

2 hours ago

Bulldogs vs Cougars: Players to Watch; Mountain West Matchups

2 hours ago

What to Stream: Jelly Roll, ‘Beetlejuice Beetlejuice,’ Cate Blanchett and Charli XCX Remixes

2 hours ago

How Harris Can Finish Strong

2 hours ago

Did Bitwise’s Soberal Apologize? Attorneys Ask For Sentencing Delay

3 hours ago

Trump Aides Sought Enhanced Security for Closing Stages of Campaign

3 hours ago

Rescuers Search for Survivors After Strikes Rock Central Beirut

MENU

CONNECT WITH US

Search

Send this to a friend