Gov. Newsom signs new law requiring big companies in California to disclose emissions
PBS NewsHourSEP 19 2023
The Spin
Narrative A
California is leading the way in a growing movement that is nudging Big Business to give investors a better idea of the climate risks they face. As cleaner energy becomes increasingly the norm, businesses that don't comply could face expensive litigation. This is great news as the world's "fifth-largest economy" rolls out this vital green policy.
Narrative B
This has all the potential to backfire on California. The burden and complexity of the new law are likely to force companies out of California to states with lighter regulations. The "one-size-fits-all" emissions rules unfairly lump various metrics together, making the following of these rules expensive.