185-88 AB-1305 Voluntary Carbon Market Disclosure Act

Summary

The bill mandates disclosure of detailed information on voluntary carbon offset projects by businesses on their websites, including project completion and emissions reductions. Entities claiming net zero emissions must document the accuracy and progress of these claims, with potential civil penalties for non-compliance up to $500,000, and annual updates are required.

Thumbnail image for The bill mandates disclosure of detailed information on voluntary carbon offset projects by businesses on their websites, including project completion and emissions reductions. Entities claiming net zero emissions must document the accuracy and progress of these claims, with potential civil penalties for non-compliance up to $500,000, and annual updates are required.

Issuer

United States

Year

2023

Region

North America

Issuer (type)

State of California (Government)

Policy Type

Disclosure

Geographical scope

Sub-national

Mandatory or voluntary

Mandatory

Main industries targeted

Mining, Quarrying, Oil & Gas Extraction
Retail trade
Public administration

Restrictiveness

Very Low

Sustainable Development Goals (SDGs)

SDG 3: Good Health and Well-being
SDG 6: Clean Water and Sanitation
SDG 9: Industry, Innovation, and Infrastructure
SDG 13: Climate Action
SDG 14: Life Below Water