Bill > S4117

This bill requires businesses with annual revenues over $1 billion that operate in New Jersey to publicly disclose their greenhouse gas emissions data annually, starting three years after the bill's enactment. Companies will need to report three types of emissions: Scope 1 (direct emissions from owned sources), Scope 2 (indirect emissions from purchased electricity), and Scope 3 (indirect upstream and downstream emissions). The reporting will be phased in, with Scope 1 and 2 emissions required first, followed by Scope 3 emissions. Companies must have their Scope 1 and 2 emissions verified by an independent third-party assurance provider, initially at a limited assurance level and later at a reasonable assurance level. The bill mandates that an emissions reporting organization create a public digital platform to make these emissions data easily accessible to consumers, investors, and stakeholders. Penalties for non-compliance include civil administrative fines ranging from $10,000 to $50,000 per offense. The goal is to increase transparency about corporate carbon emissions, help New Jersey track progress towards climate goals, and provide stakeholders with comprehensive information about companies' environmental impact. The bill aligns with the globally recognized Greenhouse Gas Protocol standards and allows some flexibility for companies reporting in other jurisdictions.

Agriculture and Natural Resources, Budget and Finance

https://www.njleg.state.nj.us/bill-search/2024/S4117