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California and New Emissions Disclosure - Scope 3.pptx

Here is my presentation video on the new propose California emissions bills

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California and
New Emissions
Disclosure
Paul Young CPA CGA
Senior Customer Success Management and Business Strategist
August, 28, 2023
Paul Young - Bio
• CPA, CGA (1996)
• Academia (PF1, FA4, FN2, MU1. and MS2)
• SME – Customer Success Management
• SME – Risk Management
• SME – ESG and Sustainability Policies and
Reporting
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Business Process Change
• SME – Financial Solutions
• SME – Macro/Micro Indicators
• SME – Supply Chain Management
• SME – Data, AI, Security, and Platform
• SME – Internal Controls and Auditing
Contact information email: Paul_Young_CGA@outlook.com
LinkedIn: https://www.linkedin.com/in/paul-young-055632b/
SlideShare - https://www.slideshare.net/paulyoungcga
Senior Customer Success Manager Data and AI and
Business Strategist
Agenda
• What are the two new emissions reporting bill before California Legislature
• Audit Process if new bill pass
• Challenges / Concerns
• Scope 1, Scope 2, and Scope 3
• Data Quality and challenges
• Summary
3
California approved Bills
• Corporations have for years graded themselves on climate change, at times
marketing themselves as environmental stewards while failing to fully disclose their
emissions.
• Now California is considering holding corporations more accountable: If approved
by the Legislature and Gov. Gavin Newsom, two bills would make California the first
state to require large corporations to disclose their greenhouse gas emissions and
report their risks from climate change.
• One bill — already approved by the Senate — would force about 5,300 U.S.
corporations earning more than $1 billion and doing business in California to
annually report their global emissions of carbon dioxide and other gases that
contribute to climate change.
• Another bill that won Senate approval would require more than 10,000 companies
with revenues exceeding $500 million to detail how climate change poses financial
risks to their operations, not just in California, but around the world.
4
Audit Process / 2026
5
Challenges and Concerns
Here are key concerns with the California emissions disclosure bill:
a) The focus appears to be too narrow on emissions. Other areas of ESG reporting also are key to hitting net zero.
b) Auditing of emissions throughout the supply chain. Will California contact audits of emissions? If so, how will audit
testing be based. There are many different solutions for carbon accounting including internal built solutions and 3rd
party solutions.
c) Costs to business as part of overall compliance including having right vendors that meet ESG target that can meet
product quality and delivery times.
d) This will increase the compliance costs. California is already ranked as one of the most regulated states, in the United
States. https://ascend.thentia.com/insight/least-and-most-regulated-states-in-america/. Will the change lead to more
exodus of businesses.
e) Companies less than $1B will not be immune as they will be part of Scope 3 supply chain, i.e., logistics, 3rd party
warehousing, ports, rail, wholesaler, etc.
f) Why has the public sector been excluded?
6

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California and New Emissions Disclosure - Scope 3.pptx

  • 1. California and New Emissions Disclosure Paul Young CPA CGA Senior Customer Success Management and Business Strategist August, 28, 2023
  • 2. Paul Young - Bio • CPA, CGA (1996) • Academia (PF1, FA4, FN2, MU1. and MS2) • SME – Customer Success Management • SME – Risk Management • SME – ESG and Sustainability Policies and Reporting • SME – Close, Consolidate and Reporting • SME – Public Policy • SME – Emerging Technology • SME – Business Process Change • SME – Financial Solutions • SME – Macro/Micro Indicators • SME – Supply Chain Management • SME – Data, AI, Security, and Platform • SME – Internal Controls and Auditing Contact information email: Paul_Young_CGA@outlook.com LinkedIn: https://www.linkedin.com/in/paul-young-055632b/ SlideShare - https://www.slideshare.net/paulyoungcga Senior Customer Success Manager Data and AI and Business Strategist
  • 3. Agenda • What are the two new emissions reporting bill before California Legislature • Audit Process if new bill pass • Challenges / Concerns • Scope 1, Scope 2, and Scope 3 • Data Quality and challenges • Summary 3
  • 4. California approved Bills • Corporations have for years graded themselves on climate change, at times marketing themselves as environmental stewards while failing to fully disclose their emissions. • Now California is considering holding corporations more accountable: If approved by the Legislature and Gov. Gavin Newsom, two bills would make California the first state to require large corporations to disclose their greenhouse gas emissions and report their risks from climate change. • One bill — already approved by the Senate — would force about 5,300 U.S. corporations earning more than $1 billion and doing business in California to annually report their global emissions of carbon dioxide and other gases that contribute to climate change. • Another bill that won Senate approval would require more than 10,000 companies with revenues exceeding $500 million to detail how climate change poses financial risks to their operations, not just in California, but around the world. 4
  • 6. Challenges and Concerns Here are key concerns with the California emissions disclosure bill: a) The focus appears to be too narrow on emissions. Other areas of ESG reporting also are key to hitting net zero. b) Auditing of emissions throughout the supply chain. Will California contact audits of emissions? If so, how will audit testing be based. There are many different solutions for carbon accounting including internal built solutions and 3rd party solutions. c) Costs to business as part of overall compliance including having right vendors that meet ESG target that can meet product quality and delivery times. d) This will increase the compliance costs. California is already ranked as one of the most regulated states, in the United States. https://ascend.thentia.com/insight/least-and-most-regulated-states-in-america/. Will the change lead to more exodus of businesses. e) Companies less than $1B will not be immune as they will be part of Scope 3 supply chain, i.e., logistics, 3rd party warehousing, ports, rail, wholesaler, etc. f) Why has the public sector been excluded? 6
  • 7. ESG / Scopes Add a footer 7
  • 8. Integrated Reporting Add a footer 8 – Stakeholders – Government (Regulatory) – SEC (Pensions, Stocks, Bonds – Private Investors – Internal stakeholders (Lines of Business) • Reporting Cycle • Regulatory filings • Budgeting and Forecasting Cycle • Integration between reporting cycle and the budgeting & forecasting Cycle
  • 9. Data Quality Add a footer 9 – Data Management – Data Governance – Data Ingestion
  • 11. Summary • Both California bills for emissions disclosure have been approved by the California senate. There are still obstacles to these bills becoming law. • IFRS has adopted S1 and S2 standards that likely will impact California companies if they are doing business in EMEA. • ESG is also a focus area by higher education, local, state, county, city, and other government business enterprises. • Addressing issues with data as part of data architecture and integrated the ESG data as part of the overall integrated planning and reporting phase • There are many software solutions that can support the ESG journey. It is important to have a steering committee as part of moving to ESG solution • ESG is not going away. Both Public and Private Sector need to plan accordingly as part of their integrated planning and reporting cycle. 11
  • 12. Additional Links and Sources • Blog – Podcast – Data Challenges with ESG Reporting - https://www.linkedin.com/posts/paul-young-055632b_sustainability- scores-90-how-an-experience-activity-7095379529820499970-XzYN?utm_source=share&utm_medium=member_desktop • Listen to it on your favourite podcast platform. • Apple - https://podcasts.apple.com/us/podcast/90-how-an-experience-data-and-ai-specialist-looks-at/id1575726960?i=1000623983695 • Spotify - https://open.spotify.com/episode/4ZTd9Y873YzHB3gdKLviYA?si=yhyeypOSRmuNYmDTd3LDTg • Google - https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy8xMTEyYjRjOC9wb2RjYXN0L3Jzcw/episode/MmNlMjg3MmQtMTlhZi00OWY2LTlhNDQtM TAyNDhjY2IwNDIw?sa=X&ved=0CAUQkfYCahcKEwjYv9fjhdKAAxUAAAAAHQAAAAAQAQ • Amazon - https://music.amazon.in/podcasts/2270bddd-d8c9-4476-945c-c9a2bdc829b3/episodes/ed929308-36b6-4b44-a70c-08db7373c15a/sustainability- scores-90-how-an-experience-data-and-ai-specialist-looks-at-the-esg-data-project-in-a-company-with-guest-paul-young • Contact: Paul Young CPA CGA (paul_young_cga@outlook.com) 12

Editor's Notes

  1. Source - https://calmatters.org/environment/climate-change/2023/06/california-legislation-corporate-climate-change/ Reporting of greenhouse gas (GHG) emissions by major sources is required by the California Global Warming Solutions Act of 2006 (AB 32).
  2. Source - https://currently.att.yahoo.com/att/california-proposed-emissions-reporting-bill-220529274.html
  3. https://currently.att.yahoo.com/att/california-proposed-emissions-reporting-bill-220529274.html
  4. https://www.ipe.com/current-edition/integrated-reporting-accounting-goes-sustainable/10043919.article
  5. Source - https://novisto.com/the-basics-of-esg-data-management-purpose-governance-and-quality/
  6. https://www.strategyand.pwc.com/de/en/functions/esg-strategy/esg-software-market.html