California Legislature Clears Emission Reporting Requirement (1)

Thousands of companies would have to report greenhouse gas emissions annually as a condition of doing business in California under legislation cleared by the state Senate on Tuesday.

Senators passed the bill (S.B. 253) by a vote of 27-8 after the measure was approved in the state Assembly on Monday. The legislation heads next to Gov. Gavin Newsom (D), whose office typically doesn’t comment on pending legislation. The bill applies to companies that do more than $1 billion in annual revenue.

The measure comes as the US Securities and Exchange Commission considers its own rules that may require ...