SEC Sees California Climate Rules Easing Cost of National Plan

The enactment of sweeping California emissions disclosure legislation would make the SEC’s proposed climate reporting requirements less of a financial lift for companies, agency Chair Gary Gensler said Wednesday.

The California bill, which Gov. Gavin Newsom (D) is expected to sign into law soon, would require thousands of companies that do business in the state to disclose their greenhouse gas emissions, including those from their supply chains. The Securities and Exchange Commission’s proposal for emissions reporting would bring fewer new expenses for companies if California already mandates the disclosures, Gensler said at a House Financial Services Committee hearing Wednesday.

“We ...