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

Jeffrey Sachs Warns of Looming US War With Iran

DON'T MISS

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

DON'T MISS

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

DON'T MISS

Why It’s Hard to Control What Gets Taught in Public Schools

DON'T MISS

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

DON'T MISS

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

DON'T MISS

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

DON'T MISS

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

DON'T MISS

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

DON'T MISS

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

UP NEXT

New California Voter ID Ban Puts Conservative Cities at Odds With State

UP NEXT

Big Lots Holds Going-Out-of-Business Sales After Deal to Save Company Fails

UP NEXT

University of California Campuses Resolve Discrimination Complaints Stemming From Gaza Protests

UP NEXT

California Declared an Emergency Over Bird Flu. How Serious Is the Situation?

UP NEXT

Stock Market Today: Wall Street Leaps and Halves Its Losses From What Had Been a Dismal Week

UP NEXT

Farmers, Business Owners, Fire Survivors Face Uncertainty After $100B in Disaster Relief Flounders

UP NEXT

Starbucks Workers Plan Strikes That Could Spread to Hundreds of US Stores by Christmas Eve

UP NEXT

Chinese National Charged With Acting as Beijing’s Agent in Local California Election

UP NEXT

CA Lemon Law Will Provide Car Buyers Fewer Protections in 2025

UP NEXT

Fresno’s Enviro Issues Won’t Get in Way of New Housing: IRS Building Owner

Why It’s Hard to Control What Gets Taught in Public Schools

10 hours ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

10 hours ago

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

10 hours ago

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

10 hours ago

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

11 hours ago

9-Year-Old Among 5 Killed in Christmas Market Attack in Germany

11 hours ago

Biden Signs Bill That Averts Government Shutdown, and Brings a Close to Days of Washington Upheaval

11 hours ago

This French Bulldog Is So Fetch: Meet Toaster Strudel

13 hours ago

The Fed Expects to Cut Rates More Slowly in 2025. What That Could Mean for Mortgages, Debt and More

15 hours ago

New California Voter ID Ban Puts Conservative Cities at Odds With State

16 hours ago

Jeffrey Sachs Warns of Looming US War With Iran

In a recent interview, renowned economist Jeffrey Sachs outlined his concerns about the possibility of war with Iran, framing it as the culm...

8 hours ago

8 hours ago

Jeffrey Sachs Warns of Looming US War With Iran

8 hours ago

Cat House on the Kings Urgently Needs You to Donate Dollars and Adopt Your New Best Friend

9 hours ago

The Surprising Sexual Politics of Nicole Kidman’s Kinky ‘Babygirl’

10 hours ago

Why It’s Hard to Control What Gets Taught in Public Schools

10 hours ago

FDA Approves Weight-Loss Drug to Treat Obstructive Sleep Apnea

10 hours ago

In a Calendar Rarity, Hanukkah Starts This Year on Christmas Day

10 hours ago

A Look at the $100 Billion in Disaster Relief in the Government Spending Bill

11 hours ago

It’s Eggnog Season. The Boozy Beverage Dates Back to Medieval England but Remains a Holiday Hit

Help continue the work that gets you the news that matters most.

Search

Send this to a friend