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California lawmakers have sent a bill to Governor Newsom's desk that would require all large businesses in the state to provide a detailed accounting of their carbon emissions, including their Scope 3, or supply chain emissions. The bill, if adopted, would be the first of its kind in the nation to require carbon emissions reporting. Apple and Google , massive technology companies headquartered in California, support the move to require carbon accounting. Meanwhile, the California Chamber of Commerce opposes the bill, saying requiring emissions accounting will increase business operation costs for businesses and consumers. Also, Dickinson said that carbon accounting can be a helpful process for companies.
Persons: Newsom's, Bill, Gavin Newsom, SEC hasn't, Newsom, Al Gore, Gore, Google, Mike Foulkes, Scott Wiener, Apple, Foulkes, Paul Dickinson, Dickinson Organizations: California Senate, U.S . Securities, Exchange Commission, SEC, CNBC, Apple, Google, California Chamber, Commerce, of Commerce, Bloomberg Locations: California
Apple "strongly believes" that companies' corporate climate emissions disclosures should include the emissions that come from their supply chain, or what's called Scope 3 emissions. "To ensure accuracy and transparency, we strongly believe that companies' carbon emissions disclosures should include their Scope 3 emissions," Foulkes wrote. In the letter, Apple acknowledges some amount of uncertainty in reporting Scope 3 emissions due to available data at this time. In the letter, Apple also backed third party oversight of the emissions reporting. Apple's support of Scope 3 emissions in California, where the company is headquartered, comes at a time when federal regulators are considering requiring some level of corporate climate disclosures.
Persons: Mike Foulkes, Scott Wiener, Bill, Foulkes, Apple, Wiener, SEC hasn't Organizations: Apple, Twitter, U.S . Securities, Exchange Commission, SEC Locations: California
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