The document discusses two new bills before the California legislature regarding emissions reporting and disclosure. If passed, one bill would require companies with over $1 billion in revenue to report their global greenhouse gas emissions annually. The other would require companies over $500 million to report on financial risks from climate change. The bills face challenges regarding auditing scope 1, 2, and 3 emissions across global supply chains and increasing compliance costs. Addressing data quality issues will also be important for companies integrating environmental, social and governance (ESG) reporting into overall planning and disclosure cycles.