States making climate reporting inevitable

Here’s the intro from this note by Tim Mohin:

Last week, we shared how the implementation of California’s climate laws is likely to be delayed for two years. This week, research from Fitch Ratings revealed that California isn’t the only state moving ahead with a mandatory climate disclosure policy. There are at least four additional states that are considering climate disclosure legislation. Most of these disclosure bills mirror the requirements in the California climate laws, with some slight nuances.

For example, New York, Washington State, and Illinois would require companies doing business in their state with overall annual revenues of more than $1 billion to report their Scope 1, 2, and 3 emissions verified by a third party – which is identical to the California law (SB253). There are slight differences in how each state requires companies to report, as well as slight changes in adoption timelines and their position in state legislatures.