S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    897
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sen. HOYLMAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Environmental Conservation
 
 AN ACT to amend the  environmental  conservation  law,  in  relation  to
   climate corporate accountability
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited  as  the  "climate
 corporate accountability act".
   §  2.  The  environmental  conservation law is amended by adding a new
 section 75-0118 to read as follows:
 § 75-0118. CLIMATE CORPORATE ACCOUNTABILITY ACT.
   1. DEFINITIONS. AS USED IN THIS SECTION,  THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   A.  "EMISSIONS  REGISTRY"  MEANS  AN ENTITY WITHIN THE DEPARTMENT OR A
 NONPROFIT EMISSIONS REGISTRY ORGANIZATION CONTRACTED BY  THE  DEPARTMENT
 PURSUANT TO PARAGRAPH B OF THIS SUBDIVISION THAT:
   I.  CURRENTLY  OPERATES  A VOLUNTARY GREENHOUSE GAS EMISSIONS REGISTRY
 FOR ORGANIZATIONS OPERATING IN THE UNITED STATES; OR
   II. HAS EXPERIENCE WITH VOLUNTARY GREENHOUSE GAS EMISSIONS  DISCLOSURE
 BY ENTITIES OPERATING IN NEW YORK.
   B.  "REPORTING  ENTITY" MEANS A BUSINESS ENTITY WITH TOTAL REVENUES IN
 EXCESS OF ONE BILLION DOLLARS IN THE PRECEDING CALENDAR YEAR,  INCLUDING
 REVENUES  RECEIVED  BY  ALL THE BUSINESS ENTITY'S SUBSIDIARIES THAT DOES
 BUSINESS IN THIS STATE.
   C. "SCOPE ONE EMISSIONS" MEANS ALL  DIRECT  GREENHOUSE  GAS  EMISSIONS
 THAT  STEM  FROM  SOURCES  THAT  A  REPORTING  ENTITY  OWNS  OR DIRECTLY
 CONTROLS, REGARDLESS OF LOCATION, INCLUDING, BUT NOT  LIMITED  TO,  FUEL
 COMBUSTION ACTIVITIES.
   D.  "SCOPE TWO EMISSIONS" MEANS INDIRECT GREENHOUSE GAS EMISSIONS FROM
 ELECTRICITY PURCHASED AND USED BY  A  REPORTING  ENTITY,  REGARDLESS  OF
 LOCATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03661-01-3
              

 S. 897                              2
 
   E.  "SCOPE  THREE  EMISSIONS" MEANS INDIRECT GREENHOUSE GAS EMISSIONS,
 OTHER THAN SCOPE TWO EMISSIONS, FROM ACTIVITIES OF  A  REPORTING  ENTITY
 THAT STEM FROM SOURCES THAT THE REPORTING ENTITY DOES NOT OWN OR DIRECT-
 LY CONTROL AND MAY INCLUDE, BUT ARE NOT LIMITED TO, EMISSIONS ASSOCIATED
 WITH  THE  REPORTING  ENTITY'S  SUPPLY  CHAIN, BUSINESS TRAVEL, EMPLOYEE
 COMMUTES, PROCUREMENT, WASTE, AND WATER USAGE, REGARDLESS OF LOCATION.
   2. A. THE DEPARTMENT SHALL ADOPT REGULATIONS TO  REQUIRE  A  REPORTING
 ENTITY  TO ANNUALLY DISCLOSE AND VERIFY TO THE EMISSIONS REGISTRY ALL OF
 THE REPORTING ENTITY'S SCOPE ONE EMISSIONS,  SCOPE  TWO  EMISSIONS,  AND
 SCOPE THREE EMISSIONS. THE REGULATIONS ADOPTED PURSUANT TO THIS SUBDIVI-
 SION SHALL REQUIRE, AT A MINIMUM, THAT:
   I.  (1)  EXCEPT  AS PROVIDED IN CLAUSE TWO OF THIS SUBPARAGRAPH, ON OR
 BEFORE JULY FIRST OF  EACH  YEAR,  A  REPORTING  ENTITY  SHALL  PUBLICLY
 DISCLOSE  TO  THE EMISSIONS REGISTRY ALL OF THE REPORTING ENTITY'S SCOPE
 ONE EMISSIONS AND SCOPE TWO EMISSIONS FOR THE PRIOR CALENDAR  YEAR,  AND
 ITS  SCOPE  THREE  EMISSIONS  FOR  THAT SAME CALENDAR YEAR NO LATER THAN
 DECEMBER THIRTY-FIRST,  USING  THE  GREENHOUSE  GAS  PROTOCOL  CORPORATE
 ACCOUNTING AND REPORTING STANDARD AND THE GREENHOUSE GAS PROTOCOL CORPO-
 RATE  VALUE  CHAIN (SCOPE 3) ACCOUNTING AND REPORTING STANDARD DEVELOPED
 BY THE WORLD RESOURCES INSTITUTE AND  THE  WORLD  BUSINESS  COUNCIL  FOR
 SUSTAINABLE  DEVELOPMENT,  INCLUDING  GUIDANCE FOR SCOPE THREE EMISSIONS
 CALCULATIONS THAT DETAIL ACCEPTABLE USE OF BOTH  PRIMARY  AND  SECONDARY
 DATA  SOURCES,  INCLUDING  THE USE OF INDUSTRY AVERAGE DATA, PROXY DATA,
 AND OTHER GENERIC DATA IN ITS SCOPE THREE EMISSIONS CALCULATIONS.
   (2) THE DEPARTMENT SHALL REVIEW, AND UPDATE AS NECESSARY,  THE  PUBLIC
 DISCLOSURE DEADLINES ESTABLISHED PURSUANT TO CLAUSE ONE OF THIS SUBPARA-
 GRAPH TO EVALUATE TRENDS IN SCOPE THREE EMISSIONS REPORTING AND CONSIDER
 CHANGES TO THE DISCLOSURE DEADLINES TO ENSURE THAT SCOPE THREE EMISSIONS
 DATA  IS DISCLOSED TO THE EMISSIONS REGISTRY AS CLOSE IN TIME AS PRACTI-
 CABLE TO THE DEADLINE FOR REPORTING ENTITIES TO DISCLOSE SCOPE ONE EMIS-
 SIONS AND SCOPE TWO EMISSIONS DATA.
   THE REPORTING TIMELINES SHALL TAKE INTO ACCOUNT THE TIMELINES BY WHICH
 REPORTING ENTITIES TYPICALLY RECEIVE SCOPE ONE,  SCOPE  TWO,  AND  SCOPE
 THREE  EMISSIONS DATA, AS WELL AS THE CAPACITY FOR INDEPENDENT VERIFICA-
 TION TO BE PERFORMED BY  A  THIRD-PARTY  AUDITOR,  AS  APPROVED  BY  THE
 DEPARTMENT.
   II.  A  REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL INCLUDE THE NAME OF
 THE REPORTING ENTITY AND ANY  FICTITIOUS  NAMES,  TRADE  NAMES,  ASSUMED
 NAMES, SUBSIDIARIES AND LOGOS USED BY THE REPORTING ENTITY.
   III.  A  REPORTING  ENTITY'S  PUBLIC DISCLOSURE SHALL BE STRUCTURED IN
 WAYS THAT MAXIMIZE AND STREAMLINE REPORTING AND EASE OF USE  IN  MEETING
 THE  REQUIREMENTS  OF NATIONAL AND INTERNATIONAL DISCLOSURE PROGRAMS AND
 STANDARDS, INCLUDING, BUT NOT LIMITED TO, ADOPTED RULES FROM THE  UNITED
 STATES  SECURITIES  AND  EXCHANGE COMMISSION AND INTERNATIONAL STANDARDS
 SUCH AS THOSE ESTABLISHED BY CDP GLOBAL.
   IV. (1) A REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL BE  INDEPENDENTLY
 VERIFIED  BY THE EMISSIONS REGISTRY OR A THIRD-PARTY AUDITOR APPROVED BY
 THE DEPARTMENT WITH EXPERTISE IN GREENHOUSE  GAS  EMISSIONS  ACCOUNTING.
 THE  REPORTING  ENTITY SHALL ENSURE THAT A COPY OF THE COMPLETE, AUDITED
 GREENHOUSE GAS EMISSIONS INVENTORY, INCLUDING THE NAME OF  THE  APPROVED
 THIRD-PARTY AUDITOR, IS PROVIDED TO THE EMISSIONS REGISTRY AS PART OF OR
 IN CONNECTION WITH THE REPORTING ENTITY'S PUBLIC DISCLOSURE.
   (2)  THE DEPARTMENT SHALL ESTABLISH AUDITOR QUALIFICATIONS AND A PROC-
 ESS FOR APPROVAL OF AUDITORS THAT ENSURES SUFFICIENT  AUDITOR  CAPACITY,
 AS  WELL AS TIMELY REPORTING IMPLEMENTATION AS REQUIRED UNDER CLAUSE ONE
 OF SUBPARAGRAPH I OF THIS PARAGRAPH.
 S. 897                              3
 
   B. THE DEPARTMENT SHALL CREATE OR CONTRACT WITH, AN EMISSIONS REGISTRY
 TO DEVELOP A REPORTING AND REGISTRY PROGRAM TO RECEIVE AND MAKE PUBLICLY
 AVAILABLE DISCLOSURES REQUIRED BY  THIS  SECTION.  EMISSIONS  REGISTRIES
 SHALL  NOT  BE  AUTHORIZED  TO  PROVIDE  SERVICES  TO  A COMPANY WHERE A
 CONFLICT OF INTEREST EXISTS. A CONFLICT OF INTEREST SHALL INCLUDE:
   I.  THE EMISSIONS REGISTRY AND REPORTING ENTITY SHARING ANY MANAGEMENT
 STAFF OR BOARD OF DIRECTORS MEMBERSHIP, OR ANY OF THE SENIOR  MANAGEMENT
 STAFF  OF  THE  REPORTING  ENTITY  HAVING BEEN EMPLOYED BY THE EMISSIONS
 REGISTRY OR REPORTING ENTITY WITHIN THE PREVIOUS FIVE YEARS.
   II. ANY EMPLOYEE OF THE EMISSIONS  REGISTRY,  OR  ANY  EMPLOYEE  OF  A
 RELATED  ENTITY,  OR  A  SUBCONTRACTOR  WHO IS A MEMBER OF THE EMISSIONS
 REGISTRY HAVING PROVIDED THE REPORTING ENTITY WITH SERVICES  RELATED  TO
 THE  AREAS  OF  EMISSIONS  REGISTRY,  OR  ANY SERVICES DESIGNATED BY THE
 DEPARTMENT, WITHIN THE PREVIOUS FIVE YEARS.
   III. ANY STAFF MEMBER OF THE EMISSIONS REGISTRY PROVIDING ANY TYPE  OF
 NON-MONETARY  INCENTIVE  TO  A  REPORTING  ENTITY  TO  SECURE A SERVICES
 CONTRACT.
   C. THE DEPARTMENT MAY ADOPT OR UPDATE ANY OTHER  REGULATIONS  THAT  IT
 DEEMS NECESSARY AND APPROPRIATE TO IMPLEMENT THIS SUBDIVISION.
   3.  A. THE DEPARTMENT SHALL PREPARE A REPORT ON THE PUBLIC DISCLOSURES
 MADE BY REPORTING ENTITIES TO THE EMISSIONS REGISTRY PURSUANT TO  SUBDI-
 VISION TWO OF THIS SECTION AND THE REGULATIONS ADOPTED BY THE DEPARTMENT
 PURSUANT  TO  SUCH  SUBDIVISION.  IN PREPARING THE REPORT, CONSIDERATION
 SHALL BE GIVEN TO, AT A MINIMUM, GREENHOUSE GAS EMISSIONS FROM REPORTING
 ENTITIES IN THE CONTEXT OF STATE GREENHOUSE GAS EMISSIONS REDUCTION  AND
 CLIMATE  GOALS.   THE DEPARTMENT SHALL NOT REQUIRE REPORTING ENTITIES TO
 REPORT ANY INFORMATION BEYOND WHAT IS REQUIRED PURSUANT TO THIS  SECTION
 OR THE REGULATIONS ADOPTED BY THE DEPARTMENT PURSUANT TO SUBDIVISION TWO
 OF  THIS  SECTION. THE DEPARTMENT SHALL ISSUE THE REPORT OF ITS FINDINGS
 TO THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY AND THE TEMPORARY PRESIDENT
 OF THE SENATE AND SHALL PUBLISH SUCH REPORT ON ITS WEBSITE.
   B. THE EMISSIONS REGISTRY SHALL MAKE THE REPORTING  ENTITIES'  DISCLO-
 SURES  AVAILABLE  ON  THE  DEPARTMENT'S  WEBSITE  WITHIN  THIRTY DAYS OF
 RECEIPT OF SUCH DISCLOSURES.
   4. THE ATTORNEY GENERAL MAY BRING A CIVIL ACTION AGAINST  A  REPORTING
 ENTITY  SEEKING  CIVIL PENALTIES OF ONE HUNDRED THOUSAND DOLLARS PER DAY
 FOR WILLFUL FAILURE TO COMPLY WITH THE REQUIREMENTS OF THIS  SECTION  OR
 REGULATIONS SET FORTH BY THE DEPARTMENT.
   § 3. This act shall take effect two years after it shall have become a
 law. Effective immediately, the addition, amendment and/or repeal of any
 rule  or  regulation necessary for the implementation of this act on its
 effective date are authorized to be made and completed on or before such
 effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  897--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL,  GOUNARDES,  MAY -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Environmental  Conservation  -- reported favorably from said committee
   and committed to the Committee on  Finance  --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the  environmental  conservation  law,  in  relation  to
   climate corporate accountability
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited  as  the  "climate
 corporate accountability act".
   §  2.  The  environmental  conservation law is amended by adding a new
 section 75-0121 to read as follows:
 § 75-0121. CLIMATE CORPORATE ACCOUNTABILITY ACT.
   1. DEFINITIONS. AS USED IN THIS SECTION,  THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   A.  "EMISSIONS  REGISTRY"  MEANS  AN ENTITY WITHIN THE DEPARTMENT OR A
 NONPROFIT EMISSIONS REGISTRY ORGANIZATION CONTRACTED BY  THE  DEPARTMENT
 PURSUANT TO PARAGRAPH B OF THIS SUBDIVISION THAT:
   I.  CURRENTLY  OPERATES  A VOLUNTARY GREENHOUSE GAS EMISSIONS REGISTRY
 FOR ORGANIZATIONS OPERATING IN THE UNITED STATES; OR
   II. HAS EXPERIENCE WITH VOLUNTARY GREENHOUSE GAS EMISSIONS  DISCLOSURE
 BY ENTITIES OPERATING IN NEW YORK.
   B.  "REPORTING  ENTITY" MEANS A BUSINESS ENTITY WITH TOTAL REVENUES IN
 EXCESS OF ONE BILLION DOLLARS IN THE PRECEDING CALENDAR YEAR,  INCLUDING
 REVENUES  RECEIVED  BY  ALL THE BUSINESS ENTITY'S SUBSIDIARIES THAT DOES
 BUSINESS IN THIS STATE.
   C. "SCOPE ONE EMISSIONS" MEANS ALL  DIRECT  GREENHOUSE  GAS  EMISSIONS
 THAT  STEM  FROM  SOURCES  THAT  A  REPORTING  ENTITY  OWNS  OR DIRECTLY

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03661-02-3
 S. 897--A                           2
              

 
 CONTROLS, REGARDLESS OF LOCATION, INCLUDING, BUT NOT  LIMITED  TO,  FUEL
 COMBUSTION ACTIVITIES.
   D.  "SCOPE TWO EMISSIONS" MEANS INDIRECT GREENHOUSE GAS EMISSIONS FROM
 ELECTRICITY PURCHASED AND USED BY  A  REPORTING  ENTITY,  REGARDLESS  OF
 LOCATION.
   E.  "SCOPE  THREE  EMISSIONS" MEANS INDIRECT GREENHOUSE GAS EMISSIONS,
 OTHER THAN SCOPE TWO EMISSIONS, FROM ACTIVITIES OF  A  REPORTING  ENTITY
 THAT STEM FROM SOURCES THAT THE REPORTING ENTITY DOES NOT OWN OR DIRECT-
 LY CONTROL AND MAY INCLUDE, BUT ARE NOT LIMITED TO, EMISSIONS ASSOCIATED
 WITH  THE  REPORTING  ENTITY'S  SUPPLY  CHAIN, BUSINESS TRAVEL, EMPLOYEE
 COMMUTES, PROCUREMENT, WASTE, AND WATER USAGE, REGARDLESS OF LOCATION.
   2. A. THE DEPARTMENT SHALL ADOPT REGULATIONS TO  REQUIRE  A  REPORTING
 ENTITY  TO ANNUALLY DISCLOSE AND VERIFY TO THE EMISSIONS REGISTRY ALL OF
 THE REPORTING ENTITY'S SCOPE ONE EMISSIONS,  SCOPE  TWO  EMISSIONS,  AND
 SCOPE THREE EMISSIONS. THE REGULATIONS ADOPTED PURSUANT TO THIS SUBDIVI-
 SION SHALL REQUIRE, AT A MINIMUM, THAT:
   I.  (1)  EXCEPT  AS PROVIDED IN CLAUSE TWO OF THIS SUBPARAGRAPH, ON OR
 BEFORE JULY FIRST OF  EACH  YEAR,  A  REPORTING  ENTITY  SHALL  PUBLICLY
 DISCLOSE  TO  THE EMISSIONS REGISTRY ALL OF THE REPORTING ENTITY'S SCOPE
 ONE EMISSIONS AND SCOPE TWO EMISSIONS FOR THE PRIOR CALENDAR  YEAR,  AND
 ITS  SCOPE  THREE  EMISSIONS  FOR  THAT SAME CALENDAR YEAR NO LATER THAN
 DECEMBER THIRTY-FIRST,  USING  THE  GREENHOUSE  GAS  PROTOCOL  CORPORATE
 ACCOUNTING AND REPORTING STANDARD AND THE GREENHOUSE GAS PROTOCOL CORPO-
 RATE  VALUE  CHAIN (SCOPE 3) ACCOUNTING AND REPORTING STANDARD DEVELOPED
 BY THE WORLD RESOURCES INSTITUTE AND  THE  WORLD  BUSINESS  COUNCIL  FOR
 SUSTAINABLE  DEVELOPMENT,  INCLUDING  GUIDANCE FOR SCOPE THREE EMISSIONS
 CALCULATIONS THAT DETAIL ACCEPTABLE USE OF BOTH  PRIMARY  AND  SECONDARY
 DATA  SOURCES,  INCLUDING  THE USE OF INDUSTRY AVERAGE DATA, PROXY DATA,
 AND OTHER GENERIC DATA IN ITS SCOPE THREE EMISSIONS CALCULATIONS.
   (2) THE DEPARTMENT SHALL REVIEW, AND UPDATE AS NECESSARY,  THE  PUBLIC
 DISCLOSURE DEADLINES ESTABLISHED PURSUANT TO CLAUSE ONE OF THIS SUBPARA-
 GRAPH TO EVALUATE TRENDS IN SCOPE THREE EMISSIONS REPORTING AND CONSIDER
 CHANGES TO THE DISCLOSURE DEADLINES TO ENSURE THAT SCOPE THREE EMISSIONS
 DATA  IS DISCLOSED TO THE EMISSIONS REGISTRY AS CLOSE IN TIME AS PRACTI-
 CABLE TO THE DEADLINE FOR REPORTING ENTITIES TO DISCLOSE SCOPE ONE EMIS-
 SIONS AND SCOPE TWO EMISSIONS DATA.
   THE REPORTING TIMELINES SHALL TAKE INTO ACCOUNT THE TIMELINES BY WHICH
 REPORTING ENTITIES TYPICALLY RECEIVE SCOPE ONE,  SCOPE  TWO,  AND  SCOPE
 THREE  EMISSIONS DATA, AS WELL AS THE CAPACITY FOR INDEPENDENT VERIFICA-
 TION TO BE PERFORMED BY  A  THIRD-PARTY  AUDITOR,  AS  APPROVED  BY  THE
 DEPARTMENT.
   II.  A  REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL INCLUDE THE NAME OF
 THE REPORTING ENTITY AND ANY  FICTITIOUS  NAMES,  TRADE  NAMES,  ASSUMED
 NAMES, SUBSIDIARIES AND LOGOS USED BY THE REPORTING ENTITY.
   III.  A  REPORTING  ENTITY'S  PUBLIC DISCLOSURE SHALL BE STRUCTURED IN
 WAYS THAT MINIMIZE DUPLICATION OF EFFORT  AND  MAXIMIZE  AND  STREAMLINE
 REPORTING  AND  EASE  OF USE IN MEETING THE REQUIREMENTS OF NATIONAL AND
 INTERNATIONAL DISCLOSURE PROGRAMS  AND  STANDARDS,  INCLUDING,  BUT  NOT
 LIMITED TO, ADOPTED RULES FROM THE UNITED STATES SECURITIES AND EXCHANGE
 COMMISSION  AND INTERNATIONAL STANDARDS SUCH AS THOSE ESTABLISHED BY CDP
 GLOBAL.
   IV. (1) A REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL BE  INDEPENDENTLY
 VERIFIED  BY THE EMISSIONS REGISTRY OR A THIRD-PARTY AUDITOR APPROVED BY
 THE DEPARTMENT WITH EXPERTISE IN GREENHOUSE  GAS  EMISSIONS  ACCOUNTING.
 THE  REPORTING  ENTITY SHALL ENSURE THAT A COPY OF THE COMPLETE, AUDITED
 GREENHOUSE GAS EMISSIONS INVENTORY, INCLUDING THE NAME OF  THE  APPROVED
 S. 897--A                           3
 
 THIRD-PARTY AUDITOR, IS PROVIDED TO THE EMISSIONS REGISTRY AS PART OF OR
 IN CONNECTION WITH THE REPORTING ENTITY'S PUBLIC DISCLOSURE.
   (2)  THE DEPARTMENT SHALL ESTABLISH AUDITOR QUALIFICATIONS AND A PROC-
 ESS FOR APPROVAL OF AUDITORS THAT ENSURES SUFFICIENT  AUDITOR  CAPACITY,
 AS  WELL AS TIMELY REPORTING IMPLEMENTATION AS REQUIRED UNDER CLAUSE ONE
 OF SUBPARAGRAPH I OF THIS PARAGRAPH.
   B. THE DEPARTMENT SHALL CREATE OR CONTRACT WITH, AN EMISSIONS REGISTRY
 TO DEVELOP A REPORTING AND REGISTRY PROGRAM TO RECEIVE AND MAKE PUBLICLY
 AVAILABLE DISCLOSURES REQUIRED BY  THIS  SECTION.  EMISSIONS  REGISTRIES
 SHALL  NOT  BE  AUTHORIZED  TO  PROVIDE  SERVICES  TO  A COMPANY WHERE A
 CONFLICT OF INTEREST EXISTS. A CONFLICT OF INTEREST SHALL INCLUDE:
   I. THE EMISSIONS REGISTRY AND REPORTING ENTITY SHARING ANY  MANAGEMENT
 STAFF  OR BOARD OF DIRECTORS MEMBERSHIP, OR ANY OF THE SENIOR MANAGEMENT
 STAFF OF THE REPORTING ENTITY HAVING  BEEN  EMPLOYED  BY  THE  EMISSIONS
 REGISTRY OR REPORTING ENTITY WITHIN THE PREVIOUS FIVE YEARS.
   II.  ANY  EMPLOYEE  OF  THE  EMISSIONS  REGISTRY, OR ANY EMPLOYEE OF A
 RELATED ENTITY, OR A SUBCONTRACTOR WHO IS  A  MEMBER  OF  THE  EMISSIONS
 REGISTRY  HAVING  PROVIDED THE REPORTING ENTITY WITH SERVICES RELATED TO
 THE AREAS OF EMISSIONS REGISTRY,  OR  ANY  SERVICES  DESIGNATED  BY  THE
 DEPARTMENT, WITHIN THE PREVIOUS FIVE YEARS.
   III.  ANY STAFF MEMBER OF THE EMISSIONS REGISTRY PROVIDING ANY TYPE OF
 NON-MONETARY INCENTIVE TO  A  REPORTING  ENTITY  TO  SECURE  A  SERVICES
 CONTRACT.
   C.  THE  DEPARTMENT  MAY ADOPT OR UPDATE ANY OTHER REGULATIONS THAT IT
 DEEMS NECESSARY AND APPROPRIATE TO IMPLEMENT THIS SUBDIVISION.
   3. A. THE DEPARTMENT SHALL PREPARE A REPORT ON THE PUBLIC  DISCLOSURES
 MADE  BY REPORTING ENTITIES TO THE EMISSIONS REGISTRY PURSUANT TO SUBDI-
 VISION TWO OF THIS SECTION AND THE REGULATIONS ADOPTED BY THE DEPARTMENT
 PURSUANT TO SUCH SUBDIVISION. IN  PREPARING  THE  REPORT,  CONSIDERATION
 SHALL BE GIVEN TO, AT A MINIMUM, GREENHOUSE GAS EMISSIONS FROM REPORTING
 ENTITIES  IN THE CONTEXT OF STATE GREENHOUSE GAS EMISSIONS REDUCTION AND
 CLIMATE GOALS.  THE DEPARTMENT SHALL ISSUE THE REPORT OF ITS FINDINGS TO
 THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY AND THE TEMPORARY PRESIDENT OF
 THE SENATE AND SHALL PUBLISH SUCH REPORT ON ITS WEBSITE.
   B. THE EMISSIONS REGISTRY SHALL MAKE THE REPORTING  ENTITIES'  DISCLO-
 SURES  AVAILABLE  ON  THE  DEPARTMENT'S  WEBSITE  WITHIN  THIRTY DAYS OF
 RECEIPT OF SUCH DISCLOSURES.
   4. THE ATTORNEY GENERAL MAY BRING A CIVIL ACTION AGAINST  A  REPORTING
 ENTITY  SEEKING  CIVIL PENALTIES OF ONE HUNDRED THOUSAND DOLLARS PER DAY
 FOR WILLFUL FAILURE TO COMPLY WITH THE REQUIREMENTS OF THIS  SECTION  OR
 REGULATIONS SET FORTH BY THE DEPARTMENT.
   § 3. This act shall take effect two years after it shall have become a
 law. Effective immediately, the addition, amendment and/or repeal of any
 rule  or  regulation necessary for the implementation of this act on its
 effective date are authorized to be made and completed on or before such
 effective date.

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  897--C
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sens.  HOYLMAN-SIGAL, GOUNARDES, HARCKHAM, MAY, RAMOS --
   read twice and ordered printed, and when printed to  be  committed  to
   the Committee on Environmental Conservation -- reported favorably from
   said committee and committed to the Committee on Environmental Conser-
   vation  --  committee  discharged,  bill amended, ordered reprinted as
   amended and recommitted  to  said  committee  --  recommitted  to  the
   Committee on Environmental Conservation in accordance with Senate Rule
   6,  sec. 8 -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee -- reported  favorably  from
   said  committee and committed to the Committee on Finance -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the  environmental  conservation  law,  in  relation  to
   climate corporate data accountability; and to amend the state  finance
   law,  in relation to establishing the climate accountability and emis-
   sions disclosure fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  This  act shall be known and may be cited as the "climate
 corporate data accountability act".
   § 2. The environmental conservation law is amended  by  adding  a  new
 article 74 to read as follows:
                                ARTICLE 74
                 CLIMATE CORPORATE DATA ACCOUNTABILITY ACT
 SECTION 74-0101. DEFINITIONS.
         74-0102. CLIMATE CORPORATE DATA ACCOUNTABILITY ACT.
 § 74-0101. DEFINITIONS.
   AS  USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING
 MEANINGS:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03661-06-4
 S. 897--C                           2
 
              

   1. "EMISSIONS REPORTING  ORGANIZATION"  MEANS  A  NONPROFIT  EMISSIONS
 REPORTING  ORGANIZATION  CONTRACTED  BY THE DEPARTMENT PURSUANT TO PARA-
 GRAPH B OF SUBDIVISION TWO OF SECTION 74-0102 OF THIS ARTICLE THAT BOTH:
   A.  CURRENTLY  OPERATES A GREENHOUSE GAS EMISSIONS REPORTING ORGANIZA-
 TION FOR ORGANIZATIONS OPERATING IN THE UNITED STATES; AND
   B. HAS EXPERIENCE WITH GREENHOUSE GAS EMISSIONS DISCLOSURE BY ENTITIES
 OPERATING IN NEW YORK.
   2. "REPORTING ENTITY" MEANS:
   A. A PARTNERSHIP, CORPORATION, LIMITED  LIABILITY  COMPANY,  OR  OTHER
 BUSINESS  ENTITY FORMED UNDER THE LAWS OF THIS STATE OR ANY OTHER JURIS-
 DICTION THAT BOTH:
   I. DOES BUSINESS IN THIS STATE AND IS DERIVING RECEIPTS FROM  ACTIVITY
 IN  THIS STATE WITHIN THE MEANING OF SECTION TWO HUNDRED NINE OF THE TAX
 LAW; AND
   II. HAS TOTAL REVENUES IN EXCESS OF ONE BILLION DOLLARS IN THE PRECED-
 ING FISCAL YEAR, INCLUDING BUT NOT LIMITED TO REVENUES RECEIVED  BY  ALL
 OF THE BUSINESS ENTITY'S SUBSIDIARIES THAT DO BUSINESS IN THIS STATE.
   B.  A  FOREIGN  ENTITY SHALL NOT BE CONSIDERED TO BE DOING BUSINESS IN
 THIS STATE EXCLUSIVELY BY REASON OF CARRYING ON IN THIS STATE ANY OF THE
 ACTIVITIES ENUMERATED IN SUBSECTION (B) OF SECTION THIRTEEN HUNDRED  ONE
 OF  THE BUSINESS CORPORATION LAW. IF A REPORTING ENTITY IS INCLUDED AS A
 CONSOLIDATED SUBSIDIARY IN THE CONSOLIDATED FINANCIAL STATEMENTS  OF  AN
 ULTIMATE  PARENT  ENTITY,  THEN SUCH ULTIMATE PARENT ENTITY SHALL BE THE
 REPORTING ENTITY FOR PURPOSES OF THIS DEFINITION.
   3. "SCOPE 1 EMISSIONS" MEANS ALL DIRECT GREENHOUSE GAS EMISSIONS  THAT
 STEM  FROM  SOURCES  THAT  A REPORTING ENTITY OWNS OR DIRECTLY CONTROLS,
 REGARDLESS OF LOCATION, INCLUDING, BUT NOT LIMITED TO,  FUEL  COMBUSTION
 ACTIVITIES.
   4.  "SCOPE  2  EMISSIONS" MEANS INDIRECT GREENHOUSE GAS EMISSIONS FROM
 CONSUMED ELECTRICITY, STEAM, HEATING, OR COOLING PURCHASED  OR  ACQUIRED
 BY A REPORTING ENTITY, REGARDLESS OF LOCATION.
   5.  "SCOPE  3 EMISSIONS" MEANS INDIRECT UPSTREAM AND DOWNSTREAM GREEN-
 HOUSE GAS EMISSIONS, OTHER THAN SCOPE 2 EMISSIONS, FROM SOURCES THAT THE
 REPORTING ENTITY DOES NOT OWN OR DIRECTLY CONTROL AND MAY  INCLUDE,  BUT
 ARE  NOT  LIMITED  TO,  PURCHASED  GOODS  AND SERVICES, BUSINESS TRAVEL,
 EMPLOYEE COMMUTES, AND PROCESSING AND USE OF SOLD PRODUCTS AND SERVICES.
   6. "ASSURANCE PROVIDER" MEANS A FIRM OR ENTITY WHICH  CARRIES  OUT  AN
 ASSURANCE ENGAGEMENT.
   7.  "ASSURANCE  ENGAGEMENT"  MEANS AN ENGAGEMENT IN WHICH AN ASSURANCE
 PROVIDER EXPRESSES AN INDEPENDENT OPINION ON THE  REPORTS  ISSUED  UNDER
 THIS  SECTION,  TO  ENHANCE  THE  DEGREE OF CONFIDENCE OF THE DEPARTMENT
 ABOUT THE INFORMATION DISCLOSED BY THE REPORTING ENTITY.
 § 74-0102. CLIMATE CORPORATE DATA ACCOUNTABILITY ACT.
   1. A. THE DEPARTMENT SHALL ADOPT REGULATIONS TO  REQUIRE  A  REPORTING
 ENTITY TO ANNUALLY DISCLOSE TO THE EMISSIONS REPORTING ORGANIZATION, AND
 TO OBTAIN AN ASSURANCE ENGAGEMENT PERFORMED BY AN INDEPENDENT THIRD-PAR-
 TY  ASSURANCE  PROVIDER  ON, ALL OF THE REPORTING ENTITY'S SCOPE 1 EMIS-
 SIONS, SCOPE 2 EMISSIONS, AND SCOPE 3 EMISSIONS. THE REGULATIONS ADOPTED
 PURSUANT TO THIS SUBDIVISION SHALL REQUIRE THAT:
   I. (1) (A) STARTING IN TWO THOUSAND TWENTY-SIX AND ANNUALLY  THEREAFT-
 ER,  WITHIN  ONE  HUNDRED  EIGHTY  DAYS OF THE END OF ITS FISCAL YEAR, A
 REPORTING ENTITY SHALL PUBLICLY  DISCLOSE  TO  THE  EMISSIONS  REPORTING
 ORGANIZATION ALL OF THE REPORTING ENTITY'S SCOPE 1 EMISSIONS AND SCOPE 2
 EMISSIONS FOR THE PRIOR FISCAL YEAR.
   (B)  STARTING  IN  TWO  THOUSAND TWENTY-SEVEN AND ANNUALLY THEREAFTER,
 WITHIN THREE HUNDRED SIXTY-FIVE DAYS OF THE END OF ITS  FISCAL  YEAR,  A
 S. 897--C                           3
 
 REPORTING  ENTITY  SHALL  PUBLICLY DISCLOSE ITS SCOPE 3 EMISSIONS TO THE
 EMISSIONS REPORTING ORGANIZATION FOR THE PRIOR FISCAL YEAR.
   (2)  IN  COMPLYING  WITH THE REQUIREMENTS OF THIS SECTION, A REPORTING
 ENTITY SHALL MEASURE AND REPORT ITS EMISSIONS  OF  GREENHOUSE  GASES  IN
 CONFORMANCE  WITH  THE  GREENHOUSE GAS PROTOCOL CORPORATE ACCOUNTING AND
 REPORTING STANDARD AND THE GREENHOUSE GAS PROTOCOL CORPORATE VALUE CHAIN
 (SCOPE 3) ACCOUNTING AND  REPORTING  STANDARD  DEVELOPED  BY  THE  WORLD
 RESOURCES  INSTITUTE  AND  THE  WORLD  BUSINESS  COUNCIL FOR SUSTAINABLE
 DEVELOPMENT, INCLUDING GUIDANCE FOR SCOPE 3 EMISSIONS CALCULATIONS  THAT
 DETAIL  ACCEPTABLE  USE  OF  BOTH  PRIMARY  AND  SECONDARY DATA SOURCES,
 INCLUDING THE USE OF INDUSTRY AVERAGE DATA, PROXY DATA, AND OTHER GENER-
 IC DATA IN ITS SCOPE 3 EMISSIONS CALCULATIONS.
   (3) (A) STARTING IN TWO THOUSAND THIRTY-THREE  AND  EVERY  FIVE  YEARS
 THEREAFTER,  THE  DEPARTMENT  MAY  SURVEY AND ASSESS CURRENTLY AVAILABLE
 GREENHOUSE GAS ACCOUNTING AND REPORTING STANDARDS. AT THE CONCLUSION  OF
 THIS  ASSESSMENT THE DEPARTMENT MAY ADOPT A GLOBALLY RECOGNIZED ALTERNA-
 TIVE ACCOUNTING AND REPORTING STANDARD IF IT DETERMINES  ITS  USE  WOULD
 MORE  EFFECTIVELY FURTHER THE GOALS OF THIS SECTION. THIS REVIEW PROCESS
 SHALL INCLUDE CONSULTATION WITH THE STAKEHOLDERS IDENTIFIED IN PARAGRAPH
 D OF THIS SUBDIVISION.
   (B) IF THE DEPARTMENT ADOPTS AN ALTERNATIVE ACCOUNTING  AND  REPORTING
 STANDARD, THE DEPARTMENT SHALL DEVELOP AND ADOPT NEW REGULATIONS, PURSU-
 ANT  TO PARAGRAPH A OF THIS SUBDIVISION, TO ENSURE FULL CONFORMANCE WITH
 THE NEW STANDARD AND REPORTING OF SCOPES 1, 2, AND 3 EMISSIONS AND OTHER
 REQUIREMENTS OF THIS SECTION.
   (4) ON OR BEFORE JANUARY FIRST, TWO THOUSAND  THIRTY,  THE  DEPARTMENT
 SHALL  REVIEW,  AND UPDATE AS NECESSARY, THE PUBLIC DISCLOSURE DEADLINES
 ESTABLISHED PURSUANT TO CLAUSE ONE  OF  THIS  SUBPARAGRAPH  TO  EVALUATE
 TRENDS  IN  SCOPE  3  EMISSIONS  REPORTING  AND  CONSIDER CHANGES TO THE
 DISCLOSURE DEADLINES TO ENSURE THAT SCOPE 3 EMISSIONS DATA IS  DISCLOSED
 TO  THE EMISSIONS REPORTING ORGANIZATION AS CLOSE IN TIME AS PRACTICABLE
 TO THE DEADLINE FOR REPORTING ENTITIES TO DISCLOSE SCOPE 1 EMISSIONS AND
 SCOPE 2 EMISSIONS DATA.
   (5) THE REPORTING TIMELINES SHALL TAKE INTO ACCOUNT THE  TIMELINES  BY
 WHICH REPORTING ENTITIES TYPICALLY RECEIVE SCOPE 1, SCOPE 2, AND SCOPE 3
 EMISSIONS  DATA,  AS  WELL  AS THE CAPACITY FOR AN INDEPENDENT ASSURANCE
 ENGAGEMENT TO BE PERFORMED BY A THIRD-PARTY ASSURANCE PROVIDER.
   II. A REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL MAXIMIZE  ACCESS  FOR
 CONSUMERS,  INVESTORS,  AND  OTHER  STAKEHOLDERS  TO  COMPREHENSIVE  AND
 DETAILED GREENHOUSE GAS EMISSIONS DATA ACROSS SCOPE 1 EMISSIONS, SCOPE 2
 EMISSIONS AND SCOPE 3 EMISSIONS, AS DEFINED BY THIS SECTION, AND BE MADE
 IN A MANNER THAT IS EASILY UNDERSTANDABLE AND ACCESSIBLE.
   III. A REPORTING ENTITY'S PUBLIC DISCLOSURE SHALL INCLUDE THE NAME  OF
 THE  REPORTING  ENTITY  AND  ANY  FICTITIOUS NAMES, TRADE NAMES, ASSUMED
 NAMES, SUBSIDIARIES AND LOGOS USED BY THE REPORTING ENTITY.
   IV. 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, AS LONG AS THOSE REPORTS SATISFY ALL OF THE REQUIREMENTS OF THIS
 SECTION.
   V.  A  REPORTING  ENTITY'S DISCLOSURE SHALL TAKE INTO ACCOUNT ACQUISI-
 TIONS, DIVESTMENTS, MERGERS,  AND  OTHER  STRUCTURAL  CHANGES  THAT  CAN
 AFFECT  THE  GREENHOUSE  GAS  EMISSIONS REPORTING, AND IS DISCLOSED IN A
 MANNER CONSISTENT WITH THE GREENHOUSE GAS PROTOCOL STANDARDS  AND  GUID-
 S. 897--C                           4
 
 ANCE  OR  AN  ALTERNATIVE STANDARD, IF ONE IS ADOPTED AFTER TWO THOUSAND
 THIRTY-THREE.
   VI.  (1)  A  REPORTING  ENTITY  SHALL  OBTAIN AN ASSURANCE ENGAGEMENT,
 PERFORMED BY AN INDEPENDENT THIRD-PARTY  ASSURANCE  PROVIDER,  OF  THEIR
 PUBLIC DISCLOSURE.  THE REPORTING ENTITY SHALL ENSURE THAT A COPY OF THE
 COMPLETE  ASSURANCE  PROVIDER'S  REPORT  ON THE GREENHOUSE GAS EMISSIONS
 INVENTORY, INCLUDING THE NAME OF THE THIRD-PARTY ASSURANCE PROVIDER,  IS
 PROVIDED  TO  THE  EMISSIONS  REPORTING  ORGANIZATION  AS  PART OF OR IN
 CONNECTION WITH THE REPORTING ENTITY'S PUBLIC DISCLOSURE.
   (2) THE ASSURANCE ENGAGEMENT FOR SCOPE 1 EMISSIONS AND SCOPE  2  EMIS-
 SIONS  SHALL  BE PERFORMED AT A LIMITED ASSURANCE LEVEL BEGINNING IN TWO
 THOUSAND TWENTY-SIX AND AT A REASONABLE ASSURANCE LEVEL BEGINNING IN TWO
 THOUSAND THIRTY.
   (3) ON OR BEFORE JANUARY FIRST, TWO THOUSAND TWENTY-SEVEN, THE DEPART-
 MENT SHALL REVIEW AND EVALUATE TRENDS IN THIRD-PARTY ASSURANCE  REQUIRE-
 MENTS  FOR SCOPE 3 EMISSIONS, AND ON OR BEFORE SUCH DATE, THE DEPARTMENT
 MAY ESTABLISH AN ASSURANCE REQUIREMENT FOR THIRD-PARTY ASSURANCE ENGAGE-
 MENTS OF SCOPE 3 EMISSIONS. IF ANY SUCH REQUIREMENT IS ESTABLISHED,  THE
 ASSURANCE  ENGAGEMENT  FOR  SCOPE  3  EMISSIONS  SHALL BE PERFORMED AT A
 LIMITED ASSURANCE LEVEL BEGINNING IN TWO THOUSAND THIRTY.
   (4) A THIRD-PARTY ASSURANCE PROVIDER SHALL HAVE SIGNIFICANT EXPERIENCE
 IN MEASURING, ANALYZING, REPORTING, OR  ATTESTING  TO  THE  EMISSION  OF
 GREENHOUSE GASES AND SUFFICIENT COMPETENCE AND CAPABILITIES NECESSARY TO
 PERFORM ENGAGEMENTS IN ACCORDANCE WITH PROFESSIONAL STANDARDS AND APPLI-
 CABLE LEGAL AND REGULATORY REQUIREMENTS. THE ASSURANCE PROVIDER SHALL BE
 ABLE  TO  ISSUE REPORTS THAT ARE APPROPRIATE UNDER THE CIRCUMSTANCES AND
 INDEPENDENT WITH RESPECT TO THE REPORTING ENTITY, AND ANY OF THE REPORT-
 ING ENTITY'S AFFILIATES FOR WHICH IT IS PROVIDING THE ASSURANCE  REPORT.
 ON  OR  BEFORE  JANUARY FIRST, TWO THOUSAND THIRTY, THE DEPARTMENT SHALL
 REVIEW, AND UPDATE AS  NECESSARY,  THE  QUALIFICATIONS  FOR  THIRD-PARTY
 ASSURANCE PROVIDERS BASED ON AN EVALUATION OF TRENDS IN EDUCATION RELAT-
 ING TO THE EMISSION OF GREENHOUSE GASES AND THE QUALIFICATIONS OF THIRD-
 PARTY ASSURANCE PROVIDERS.
   (5)  THE  DEPARTMENT SHALL ENSURE THAT THE ASSURANCE PROCESS MINIMIZES
 THE NEED FOR REPORTING ENTITIES TO ENGAGE MULTIPLE  ASSURANCE  PROVIDERS
 AND  ENSURES  SUFFICIENT  ASSURANCE PROVIDER CAPACITY, AS WELL AS TIMELY
 REPORTING IMPLEMENTATION AS REQUIRED UNDER CLAUSE ONE OF SUBPARAGRAPH  I
 OF THIS PARAGRAPH.
   VII.  (1)  A REPORTING ENTITY UPON FILING ITS DISCLOSURE, SHALL PAY AN
 ANNUAL FEE TO THE DEPARTMENT FOR THE ADMINISTRATION  AND  IMPLEMENTATION
 OF THIS SECTION.
   (2)  THE  DEPARTMENT  SHALL SET THE FEE ESTABLISHED PURSUANT TO CLAUSE
 ONE OF THIS SUBPARAGRAPH IN AN AMOUNT SUFFICIENT TO  COVER  THE  DEPART-
 MENT'S  FULL COSTS OF ADMINISTRATING AND IMPLEMENTING THIS SECTION.  THE
 TOTAL AMOUNT OF FEES COLLECTED SHALL NOT EXCEED THE DEPARTMENT'S  ACTUAL
 AND REASONABLE COSTS TO ADMINISTER AND IMPLEMENT THIS SECTION.
   (3)  THE  PROCEEDS  OF THE FEES IMPOSED PURSUANT TO CLAUSE ONE OF THIS
 SUBPARAGRAPH SHALL BE DEPOSITED IN THE CLIMATE ACCOUNTABILITY AND  EMIS-
 SIONS DISCLOSURE FUND ESTABLISHED BY SECTION NINETY-NINE-SS OF THE STATE
 FINANCE LAW.
   B. THE DEPARTMENT SHALL CREATE OR CONTRACT WITH AN EMISSIONS REPORTING
 ORGANIZATION TO DEVELOP A REPORTING PROGRAM TO RECEIVE AND MAKE PUBLICLY
 AVAILABLE  DISCLOSURES  REQUIRED  BY  THIS  SECTION. EMISSIONS REPORTING
 ORGANIZATIONS SHALL NOT BE AUTHORIZED TO PROVIDE SERVICES TO  A  COMPANY
 WHERE  A  CONFLICT  OF  INTEREST  EXISTS.  A  CONFLICT OF INTEREST SHALL
 INCLUDE:
 S. 897--C                           5
 
   I. THE EMISSIONS REPORTING ORGANIZATION AND REPORTING  ENTITY  SHARING
 ANY  MANAGEMENT  STAFF  OR  BOARD OF DIRECTORS MEMBERSHIP, OR ANY OF THE
 SENIOR MANAGEMENT STAFF OF THE REPORTING ENTITY HAVING BEEN EMPLOYED  BY
 THE  EMISSIONS  REPORTING  ORGANIZATION  OR  REPORTING ENTITY WITHIN THE
 PREVIOUS FIVE YEARS.
   II.  ANY  EMPLOYEE  OF  THE  EMISSIONS  REPORTING ORGANIZATION, OR ANY
 EMPLOYEE OF A RELATED ENTITY, OR A SUBCONTRACTOR WHO IS A MEMBER OF  THE
 EMISSIONS  REPORTING  ORGANIZATION  HAVING PROVIDED THE REPORTING ENTITY
 WITH SERVICES RELATED TO THE AREAS OF EMISSIONS REPORTING  ORGANIZATION,
 OR  ANY  SERVICES DESIGNATED BY THE DEPARTMENT, WITHIN THE PREVIOUS FIVE
 YEARS.
   III. ANY STAFF MEMBER OF THE EMISSIONS REPORTING ORGANIZATION  PROVID-
 ING ANY TYPE OF NON-MONETARY INCENTIVE TO A REPORTING ENTITY TO SECURE A
 SERVICES CONTRACT.
   C.  THE  DEPARTMENT  MAY ADOPT OR UPDATE ANY OTHER REGULATIONS THAT IT
 DEEMS NECESSARY AND APPROPRIATE TO IMPLEMENT THIS SUBDIVISION.
   D. IN DEVELOPING THE REGULATIONS REQUIRED PURSUANT  TO  THIS  SUBDIVI-
 SION, THE DEPARTMENT SHALL CONSULT WITH ALL OF THE FOLLOWING:
   I. THE ATTORNEY GENERAL;
   II.  OTHER  GOVERNMENT  STAKEHOLDERS,  INCLUDING,  BUT NOT LIMITED TO,
 EXPERTS IN CLIMATE SCIENCE AND CORPORATE CARBON EMISSIONS ACCOUNTING AND
 REPORTING;
   III. INVESTORS;
   IV.  STAKEHOLDERS  REPRESENTING  CONSUMER  AND  ENVIRONMENTAL  JUSTICE
 INTERESTS; AND
   V.  REPORTING ENTITIES THAT HAVE DEMONSTRATED LEADERSHIP IN FULL-SCOPE
 GREENHOUSE GAS EMISSIONS ACCOUNTING AND PUBLIC DISCLOSURE AND GREENHOUSE
 GAS EMISSIONS REDUCTIONS.
   E. THIS SECTION DOES NOT REQUIRE ADDITIONAL REPORTING OF EMISSIONS  OF
 GREENHOUSE  GASES  BEYOND  THE  REPORTING  OF SCOPE 1 EMISSIONS, SCOPE 2
 EMISSIONS, AND SCOPE 3 EMISSIONS REQUIRED PURSUANT TO THE GREENHOUSE GAS
 PROTOCOL STANDARDS AND GUIDANCE OR AN ALTERNATIVE STANDARD,  IF  ONE  IS
 ADOPTED AFTER TWO THOUSAND THIRTY-THREE.
   2.  A. THE DEPARTMENT SHALL PREPARE A REPORT ON THE PUBLIC DISCLOSURES
 MADE BY REPORTING  ENTITIES  TO  THE  EMISSIONS  REPORTING  ORGANIZATION
 PURSUANT  TO SUBDIVISION ONE OF THIS SECTION AND THE REGULATIONS ADOPTED
 BY THE DEPARTMENT PURSUANT TO SUCH SUBDIVISION. IN PREPARING THE REPORT,
 CONSIDERATION SHALL BE GIVEN TO, AT A MINIMUM, GREENHOUSE GAS  EMISSIONS
 FROM REPORTING ENTITIES IN THE CONTEXT OF STATE GREENHOUSE GAS EMISSIONS
 REDUCTION  AND  CLIMATE  GOALS. THE DEPARTMENT SHALL ISSUE THE REPORT OF
 ITS FINDINGS TO THE GOVERNOR, THE SPEAKER OF THE ASSEMBLY AND THE TEMPO-
 RARY PRESIDENT OF THE SENATE  AND  SHALL  PUBLISH  SUCH  REPORT  ON  ITS
 WEBSITE.
   B. THE EMISSIONS REPORTING ORGANIZATION SHALL MAKE THE REPORTING ENTI-
 TIES' DISCLOSURES PUBLICLY AVAILABLE ON THE DIGITAL PLATFORM REQUIRED TO
 BE  CREATED BY THE EMISSIONS REPORTING ORGANIZATION PURSUANT TO SUBDIVI-
 SION FOUR OF THIS SECTION.
   3. A. I. THE EMISSIONS  REPORTING  ORGANIZATION,  ON  OR  BEFORE  JULY
 FIRST,  TWO THOUSAND TWENTY-SIX PURSUANT TO CLAUSE ONE OF SUBPARAGRAPH I
 OF PARAGRAPH A OF SUBDIVISION  ONE  OF  THIS  SECTION,  SHALL  CREATE  A
 DIGITAL  PLATFORM,  WHICH  SHALL  BE ACCESSIBLE TO THE PUBLIC, THAT WILL
 FEATURE THE EMISSIONS DATA OF REPORTING ENTITIES IN CONFORMANCE WITH THE
 REGULATIONS ADOPTED BY THE DEPARTMENT PURSUANT  TO  SUBDIVISION  ONE  OF
 THIS  SECTION  AND  THE  REPORT  PREPARED FOR THE DEPARTMENT PURSUANT TO
 SUBDIVISION TWO OF THIS SECTION. THE  EMISSIONS  REPORTING  ORGANIZATION
 S. 897--C                           6
 
 SHALL  MAKE  THE  REPORTING  ENTITIES'  DISCLOSURES AND THE DEPARTMENT'S
 REPORT AVAILABLE ON THE DIGITAL PLATFORM WITHIN THIRTY DAYS OF RECEIPT.
   II.  THE  DIGITAL  PLATFORM  SHALL  BE CAPABLE OF FEATURING INDIVIDUAL
 REPORTING ENTITY DISCLOSURES, AND SHALL ALLOW CONSUMERS, INVESTORS,  AND
 OTHER STAKEHOLDERS TO VIEW REPORTED DATA ELEMENTS AGGREGATED IN A VARIE-
 TY  OF WAYS, INCLUDING MULTIYEAR DATA, IN A MANNER THAT IS EASILY UNDER-
 STANDABLE AND ACCESSIBLE TO RESIDENTS OF THE STATE. ALL  DATA  SETS  AND
 CUSTOMIZED  VIEWS SHALL BE AVAILABLE IN ELECTRONIC FORMAT FOR ACCESS AND
 USE BY THE PUBLIC.
   B. THE EMISSIONS REPORTING ORGANIZATION SHALL  SUBMIT,  WITHIN  THIRTY
 DAYS OF RECEIPT, THE REPORT PREPARED FOR THE DEPARTMENT PURSUANT TO THIS
 SUBDIVISION TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
 ASSEMBLY, AND THE GOVERNOR.
   4.  A. THE ATTORNEY GENERAL MAY BRING A CIVIL ACTION AGAINST A REPORT-
 ING ENTITY SEEKING CIVIL PENALTIES OF UP TO ONE HUNDRED THOUSAND DOLLARS
 PER DAY FOR WILLFUL FAILURE TO COMPLY  WITH  THE  REQUIREMENTS  OF  THIS
 SECTION  OR  REGULATIONS  SET  FORTH  BY  THE  DEPARTMENT, INCLUDING FOR
 NONFILING, LATE FILING, OR OTHER FAILURE TO  MEET  THE  REQUIREMENTS  OF
 THIS  SECTION.    THE  CIVIL PENALTIES IMPOSED ON A REPORTING ENTITY FOR
 SUCH VIOLATIONS SHALL NOT EXCEED FIVE  HUNDRED  THOUSAND  DOLLARS  IN  A
 REPORTING  YEAR.  IN  SEEKING  CIVIL  PENALTIES  FOR A VIOLATION OF THIS
 SECTION, THE ATTORNEY GENERAL SHALL CONSIDER ALL RELEVANT CIRCUMSTANCES,
 INCLUDING BOTH OF THE FOLLOWING:
   I. THE VIOLATOR'S PAST AND PRESENT COMPLIANCE WITH THIS SECTION; AND
   II. WHETHER THE VIOLATOR TOOK ANY GOOD FAITH MEASURES TO  COMPLY  WITH
 THIS SECTION AND WHEN THOSE MEASURES WERE TAKEN.
   B.  A  REPORTING  ENTITY  SHALL NOT BE SUBJECT TO A CIVIL ACTION UNDER
 THIS SECTION FOR ANY MISSTATEMENTS WITH  REGARD  TO  SCOPE  3  EMISSIONS
 DISCLOSURES MADE WITH A REASONABLE BASIS AND DISCLOSED IN GOOD FAITH.
   C. PENALTIES ASSESSED ON SCOPE 3 REPORTING, BETWEEN TWO THOUSAND TWEN-
 TY-SEVEN AND TWO THOUSAND THIRTY, SHALL ONLY OCCUR FOR NONFILING.
   5. THIS SECTION APPLIES TO THE STATE UNIVERSITY AND CITY UNIVERSITY OF
 NEW  YORK ONLY TO THE EXTENT THAT THE REGENTS OF THE STATE UNIVERSITY OR
 CITY UNIVERSITY, BY RESOLUTION, MAKE ANY OF THESE PROVISIONS  APPLICABLE
 TO THE UNIVERSITY.
   § 3. The state finance law is amended by adding a new section 99-ss to
 read as follows:
   §  99-SS.  CLIMATE  ACCOUNTABILITY  AND  EMISSIONS DISCLOSURE FUND. 1.
 THERE IS HEREBY ESTABLISHED IN THE JOINT  CUSTODY  OF  THE  STATE  COMP-
 TROLLER AND THE DEPARTMENT OF TAX AND FINANCE A SPECIAL FUND TO BE KNOWN
 AS THE "CLIMATE ACCOUNTABILITY AND EMISSIONS DISCLOSURE FUND". MONEYS IN
 THIS  ACCOUNT  SHALL BE KEPT SEPARATE AND  NOT COMMINGLED WITH ANY OTHER
 MONEYS IN THE CUSTODY OF THE COMPTROLLER.
   2. SUCH FUND SHALL CONSIST OF ALL REVENUES RECEIVED BY THE  DEPARTMENT
 OF  TAXATION  AND FINANCE, PURSUANT TO THE PROVISIONS OF SECTION 75-0121
 OF THE ENVIRONMENTAL CONSERVATION LAW, THE TAX LAW AND ALL OTHER  MONEYS
 CREDITED  OR TRANSFERRED THERETO FROM  ANY OTHER FUND OR SOURCE PURSUANT
 TO LAW. NOTHING CONTAINED IN THIS SECTION SHALL PREVENT THE  STATE  FROM
 RECEIVING  GRANTS,  GIFTS  OR  BEQUESTS  FOR THE PURPOSES OF THE FUND AS
 DEFINED IN THIS SECTION AND DEPOSITING THEM INTO THE FUND  ACCORDING  TO
 LAW.  ANY  INTEREST  RECEIVED BY THE COMPTROLLER   ON MONEYS  ON DEPOSIT
 SHALL BE RETAINED AND BECOME PART OF THE FUND, UNLESS OTHERWISE DIRECTED
 BY LAW.
   § 4. Severability. If any clause,  sentence,  paragraph,  subdivision,
 section  or part of this act shall be adjudged by any court of competent
 jurisdiction to be invalid, such judgment shall not affect,  impair,  or
 S. 897--C                           7
 
 invalidate the remainder thereof, but shall be confined in its operation
 to the clause, sentence, paragraph, subdivision, section or part thereof
 directly  involved in the controversy in which  such judgment shall have
 been rendered. It is hereby declared to be the intent of the legislature
 that  this  act  would have been enacted even if such invalid provisions
 had not been included herein.
   § 5. This act shall take effect two years after it shall have become a
 law. Effective immediately, the addition, amendment and/or repeal of any
 rule or regulation necessary for the implementation of this act  on  its
 effective date are authorized to be made and completed on or before such
 effective date.