The New York State Legislature introduced Senate Bill S9072, the Climate Corporate Data Accountability Act, which calls for the reporting of greenhouse gas emissions by reporting entities doing business in the State of New York and that have total revenues in excess of one billion dollars in the preceding fiscal year. The legislation requires the NY State Department of Environmental Conservation to adopt regulations on or before Dec 31, 2026.
The legislation, if passed, would require entities in 2027 to begin reporting scope 1 and scope 2 emissions for the prior year with limited assurance provided starting in year one, reasonable assurance in 2031; starting in 2028 and annually thereafter, reporting of scope 3 emissions for the prior fiscal year will be required (assurance on scope 3 will be reviewed and evaluated by the Dept of Environmental Conservation; per the legislation, if the Dept chooses to required assurance, limited assurance will be required starting in 2031). Reporting is required to be aligned with the GHG Protocol.
The rule also notes the following related to structured reporting, standards, and repurposing of reports to minimize burden:
A reporting entity's emissions reporting shall be 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 state, national, and international reporting requirements, including any reports required by the federal government or other states or reports voluntarily prepared, including those prepared using the International Financial Reporting Standards Foundation Sustainability Disclosure Standards as issued by the International Sustainability Standards Board, as long as those reports satisfy all of the requirements of this section.
The legislation was sponsored by NY State Senator Pete Harckham (D, WF) and is now in the Senate Environmental Conservation Committee.
Check the bill status: NY State Senate Bill 2025-S9072
Read the proposed legislation: S9072
This legislation is very similar to SB 253 which passed in California and is now being implemented by the California Air Resources Board (CARB).
