California's emissions disclosure mandate, among other bills, awaits final approval

 A measure introduced by the Democratic-controlled Legislature would require companies to account for their own carbon dioxide emissions and the greenhouse gas emissions of suppliers and customers.

California's emissions disclosure mandate, among other bills, awaits final approval

Apple has publicly backed a California Senate bill mandating annual greenhouse gas emissions reporting for large corporations, joining a growing list of major companies supporting such initiatives. In a letter signed by D. Michael Foulkes, Apple's director for state and local government affairs, the tech giant stressed the importance of measurement and reporting in assessing environmental impact. Senator Scott Wiener, the bill's sponsor, shared the letter on X (formerly known as Twitter).

Senator Wiener's proposed legislation targets both public and private companies with annual revenues exceeding $1 billion that operate within eco-conscious California. These entities would be required to disclose independently verified data on their emissions contributing to climate change. Wiener expressed gratitude to Apple for their support, emphasizing the importance of such transparency in combating climate change.

As of the time of this report, Apple had not provided a comment in response to inquiries about their endorsement.

Meanwhile, the U.S. The Securities and Exchange Commission (SEC) has yet to release its anticipated rule on climate-related disclosures, prompting California legislators to take matters into their own hands with state-level initiatives.

Another related bill under consideration would oblige companies operating in California with $500 million or more in revenue to report climate-related financial risks, such as budgeting for increased compliance and insurance expenses. Together, these bills have the potential to impact thousands of companies.

In August, Adobe, Ikea, Microsoft, and other major corporations voted their support for Senator Wiener's bill in a letter addressed to California officials, as disclosed by the activist group Ceres.

Apple, in its letter to Senator Wiener, praised the bill for addressing the measurement and reporting of indirect emissions originating from supply chains and end-users, known as Scope 3 emissions. However, the company recommended allowing sufficient time for data collection, quality control, and third-party review in the legislation, particularly concerning Scope 1 and Scope 2 disclosures, which pertain to emissions from operations and energy usage associated with corporations.