Establishes the climate corporate data accountability act

• Democratic22

◆ The sponsor's argument

Why the sponsor says this is needed

Corporations have the power to stop the climate crisis, but few have taken real action to reduce their greenhouse gas emissions (GHG). A 2017 report identified 100 energy companies that have been responsible for 71% of all industrial emissions since climate change was officially recognized. While many companies have set GHG reduction targets, most of the self-set goals do not include the entire lifecycle of a corporation s product: emissions generated by a company's own facilities, the emis- sions generated by third parties from whom a company buys energy, and the emissions from the production of a product's raw materials. In order to effectively regulate and reduce the sources of GHG emissions, we need clear, transparent, accurate and verified corporate emissions reporting. New York has been a leader on reducing our carbon footprint, but there is still more to do. New Yorkers are already facing devastating sea level rise, unbalanced precipitation, rising temperatures, and severe health impacts. This legislation would require US-based businesses with annual revenues greater than one billion dollars to annually report GHG emissions from their business, including direct emissions, electricity use, and indi- rect emissions from the supply chain and other sources. The emissions reports will be made public.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.