The New Jersey state legislature announced the reintroduction of the Climate Corporate Data Accountability Act (S679) which requires certain business entities to publicize annual greenhouse gas emissions data. S4117 is sponsored by Senator Bob Smith (D) and Senator John F. Mckeon (D), and co-sponsored by Senator Linda R. Greenstein (D).
The bill is similar to SB 253, California legislation that has passed and is now being formed into law by the California Air Resources Board (CARB), and to the recently reintroduced New York legislation, S9072. The NJ bill was introduced in the Senate and has been referred to the NJ State Senate Environment and Energy Committee. Language in the bill references structured data, noting:
"The rules and regulations shall: (1) ensure that the emissions reporting required by this act is structured in a way that minimizes duplication of effort and allows a reporting entity to submit to the emissions reporting organization reports prepared to meet other national and international reporting requirements, including any reports required by the federal government, as long as those reports satisfy all of the requirements of this act.."
If passed, the bill would require organizations doing business in the State of New Jersey with annual revenues in excess of $1 billion to annually disclose scope 1, 2 and 3 emissions for the prior fiscal year starting three years after the effective date of the act. Four years after passage, scope 1 and 2 emissions data will be required to obtain limited assurance and reasonable assurance eight years after. Assurance on scope 3 will be evaluated four years after passage of the Act.
Read more about S679.
