Bill > AB154

This bill amends existing California law to establish and regulate corporate greenhouse gas emissions and climate-related financial risk reporting requirements. The bill requires large corporations (with annual revenues over $1 billion) to annually disclose their scope 1, 2, and 3 greenhouse gas emissions starting in 2026, with third-party verification and specific reporting standards based on the Greenhouse Gas Protocol. Additionally, corporations with annual revenues over $500 million must prepare and publicly disclose biennial climate-related financial risk reports, detailing potential financial impacts from climate change. Notably, the bill exempts these new regulations from the California Environmental Quality Act (CEQA) review process, streamlining their implementation. The State Air Resources Board is tasked with developing and enforcing these regulations, with the authority to impose administrative penalties for non-compliance. The bill also appropriates $1,000 from the Greenhouse Gas Reduction Fund to support the implementation of these new reporting requirements. Companies will be required to pay annual fees to cover the state's administrative costs, and the reporting will be made publicly accessible through a digital platform to enhance transparency for consumers, investors, and other stakeholders.

Budget and Finance

Budget (Assembly)

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB154