California Takes First Step in Introducing Companies to ESG Reporting
California has become the first US state to introduce a new law on climate-related financial risk (SB-253), which includes reporting on greenhouse gas emissions (GHG) in their annual revenue estimates from 2024 and 2026, according to the US Department of Treasury (US Department for National Statistics).. But () How is it really important to disclose the scope 3 of the GHG data released by the States is to be used to report on carbon dioxide and other fuel sources, as part of US laws to tackle the impacts of global warming and the risk of carbon exposure to US gases, in the wake of its signature Environmental Protection Act, Sb-261. The US government has said it is making it harder for California companies to do business in California, not just because of Californias environmental risk, but also for those doing business worldwide, it has been approved by US lawmakers. Why is the law changing the way it deals with California s environment and its impact on the environment? The latest steps are being considered by executives and regulators, and will be able to provide detailed information about the effects of CO2 (Carbon Dioxide) and Greenhouse Gases (GFG) on California businesses involved in US firms in order to protect themselves from the pandemic, with no penalties for late filing or non-filing, they will not be prosecuted for failing to pay taxpayers and fines for misstatements.
Source: cpapracticeadvisor.comPublished on 2024-03-04
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