California Emissions Reporting Bill Would Go Further Than SEC (Correct)

California lawmakers are attempting to go further than the US Securities and Exchange Commission in efforts to require some companies to report greenhouse gas emissions and climate-related financial risks.

The state legislature advanced two bills this week that would potentially cover thousands of companies doing business in the state, including public and private companies.

The measures come as the SEC works on its own disclosure requirements that would only cover public firms. While those federal rules have yet to be finalized, opponents argue the legislation proposed in California would apply to too many businesses, especially burdening mid-size companies. But backers, ...