California Advances Sweeping Big Business Climate Reporting Bill

California is one step closer to requiring large corporations such as Apple Inc. and Google LLC to disclose their greenhouse gas emissions after a state Assembly committee advanced climate legislation on Thursday.

The Climate Corporate Accountability Act would make companies with at least $1 billion in annual revenue report all direct and indirect emissions.

The California bill would go farther than the Securities and Exchange Commission’s proposed climate disclosure rule, which only applies to publicly traded companies and contains certain carve-outs for supply-chain emissions reporting.

It’s the farthest such a proposal that is designed to urge large corporations to lower ...