Uncertainty lingers with ag's role in corporate climate reporting
Uncertainty lingers with ag's role in corporate climate reporting | Agri-Pulse Communications, Inc.
Businesses have been on a rollercoaster ride as they brace for new mandates to report their supply chain emissions, known as Scope 3 requirements.
Gov. Gavin Newsom signed SB 253 last year with the caveat that cleanup language would follow to ease the aggressive deadlines. In January he was already in hot water with environmental groups after omiting funding to implement the legislation from his budget proposal.
The administration then crafted a trailer bill to delay implementation for two years. That would allow time for a pending lawsuit involving CalChamber and Western Growers to play out and for potential cleanup legislation to reflect federal rules, which leave out Scope 3 emissions. SB 253 author Sen. Scott Wiener of San Francisco, however, vowed to fight back. As a result, Newsom’s trailer bill language has yet to show up in bill form.
Instead Wiener has filed new legislation to strike a minor compromise. He proposes to provide the Air Resources Board an additional six months to finalize the regulations. But companies would still report their climate emissions starting in 2026, with Scope 3 in 2027. One perk for farmers and ranchers in Wiener’s proposal is he would allow corporations to report emissions on behalf of their subsidiaries, easing the paperwork load for agriculture.
Keep in mind: The bill factory—as the Legislature is often described—is cranking through at a steady pace this week. But on Monday it will look more like Santa’s workshop on Christmas Eve.
Senate President Pro Tempore Mike McGuire warned colleagues yesterday the majority of the bills at the desk are awaiting last-minute amendments. That means senators will be slugging back coffee Monday through at least next Wednesday as floor sessions run past 10 p.m.
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Uncertainty lingers with ag's role in corporate climate reporting
Lawmakers staged a globe on life support during a rally for corporate climate bills. (photo: Sen. Henry Stern's office)
Businesses have been on a rollercoaster ride as they brace for new mandates to report their supply chain emissions, known as Scope 3 requirements.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”