California SB 755

The California Global Warming Solutions Act of 2006 designates the State Air Resources Board as the state agency charged with monitoring and regulating sources of emissions of greenhouse gases. Existing law, the Climate Corporate Data Accountability Act, requires, on or before July 1, 2025, the state board to develop and adopt regulations to require a reporting entity to, among other things, annually disclose all of the reporting entity's scope 1 emissions, scope 2 emissions, and scope 3 emissions, as defined. Existing law also requires, on or before January 1, 2026, and biennially thereafter, a covered entity to prepare a climate-related financial risk report disclosing the entity's climate-related financial risk and measures adopted to reduce and adapt to climate-related financial risk. This bill would enact the California Contractor Climate Transparency Act, which would require the state board, beginning one year after the effective date of regulations adopted pursuant to the Climate Corporate Data Accountability Act, as specified, to require a large contractor and a significant contractor, as defined, to report annually specified information, including, for large contractors, an annual disclosure of scope 1 emissions, scope 2 emissions, scope 3 emissions, and climate-related financial risk, as specified, and for significant contractors, an annual disclosure of scope 1 emissions and scope 2 emissions, as specified.