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--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sens. HOYLMAN-SIGAL, GOUNARDES, MAY, RAMOS -- read twice
   and ordered printed, and when printed to be committed to the Committee
   on Environmental Conservation -- reported favorably from said  commit-
   tee  and  committed  to the Committee on Environmental Conservation --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee -- recommitted to the Committee on Envi-
   ronmental  Conservation  in  accordance  with Senate Rule 6, sec. 8 --
   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
 section 75-0121 to read as follows:
 § 75-0121. CLIMATE CORPORATE DATA ACCOUNTABILITY ACT.
   1. DEFINITIONS. AS USED IN THIS SECTION,  THE  FOLLOWING  TERMS  SHALL
 HAVE THE FOLLOWING MEANINGS:
   A.  "EMISSIONS  REPORTING  ORGANIZATION"  MEANS  A NONPROFIT EMISSIONS
 REPORTING ORGANIZATION CONTRACTED BY THE DEPARTMENT  PURSUANT  TO  PARA-
 GRAPH B OF SUBDIVISION THREE OF THIS SECTION THAT BOTH:
   I.  CURRENTLY  OPERATES A GREENHOUSE GAS EMISSIONS REPORTING ORGANIZA-
 TION FOR ORGANIZATIONS OPERATING IN THE UNITED STATES; AND
   II. HAS EXPERIENCE WITH GREENHOUSE GAS EMISSIONS DISCLOSURE  BY  ENTI-
 TIES OPERATING IN NEW YORK.
   B.  "REPORTING  ENTITY"  MEANS  A  PARTNERSHIP,  CORPORATION,  LIMITED
 LIABILITY COMPANY, OR OTHER BUSINESS ENTITY FORMED  UNDER  THE  LAWS  OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03661-04-4
              

 S. 897--B                           2
 
 THIS  STATE  OR ANY OTHER JURISDICTION THAT DOES BUSINESS IN THIS STATE,
 WITH TOTAL REVENUES IN EXCESS OF ONE BILLION DOLLARS  IN  THE  PRECEDING
 CALENDAR  YEAR, INCLUDING REVENUES RECEIVED BY ALL OF THE BUSINESS ENTI-
 TY'S  SUBSIDIARIES  THAT  DO  BUSINESS  IN THIS STATE. REVENUES FOR THIS
 PURPOSE SHALL BE THE CONSOLIDATED REVENUES REPORTED IN THE  CONSOLIDATED
 FINANCIAL  STATEMENTS  OF THE ENTITY AND ITS SUBSIDIARIES; PROVIDED THAT
 IF THE ENTITY IS INCLUDED AS A CONSOLIDATED SUBSIDIARY  IN  THE  CONSOL-
 IDATED  FINANCIAL  STATEMENTS  OF  AN  ULTIMATE PARENT ENTITY, THEN SUCH
 ULTIMATE PARENT ENTITY SHALL BE THE REPORTING  ENTITY  FOR  PURPOSES  OF
 THIS DEFINITION.
   C.  "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.
   D. "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.
   E. "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.
   F.  "ASSURANCE  PROVIDER"  MEANS A FIRM OR ENTITY WHICH CARRIES OUT AN
 ASSURANCE ENGAGEMENT.
   G. "ASSURANCE ENGAGEMENT" MEANS AN ENGAGEMENT IN  WHICH  AN  ASSURANCE
 PROVIDER  AIMS  TO  OBTAIN  EVIDENCE  IN  ORDER  TO EXPRESS A CONCLUSION
 DESIGNED TO ENHANCE THE DEGREE OF CONFIDENCE OF THE DEPARTMENT ABOUT THE
 INFORMATION DISCLOSED BY THE REPORTING ENTITY.
   2. 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 ON OR BEFORE JULY FIRST, TWO  THOUSAND  TWENTY-SIX
 AND  ANNUALLY  THEREAFTER, ON OR BY JULY FIRST OF EACH 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 CALENDAR YEAR.
   (B) STARTING ON OR BEFORE JULY FIRST, TWO  THOUSAND  TWENTY-SEVEN  AND
 ANNUALLY THEREAFTER, ON OR BY JULY FIRST OF EACH YEAR, A REPORTING ENTI-
 TY  SHALL  PUBLICLY  DISCLOSE  ITS  SCOPE  3 EMISSIONS NO LATER THAN ONE
 HUNDRED EIGHTY DAYS AFTER ITS SCOPE 1 EMISSIONS AND  SCOPE  2  EMISSIONS
 ARE  PUBLICLY  DISCLOSED TO THE EMISSIONS REPORTING ORGANIZATION FOR THE
 PRIOR CALENDAR YEAR.
   (2) STARTING IN TWO THOUSAND  TWENTY-SIX,  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) ACCOUNT-
 ING 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 INDUS-
 TRY AVERAGE DATA, PROXY DATA, AND OTHER GENERIC  DATA  IN  ITS  SCOPE  3
 EMISSIONS CALCULATIONS.
 S. 897--B                           3
 
   (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-
 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
 S. 897--B                           4
 
 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. THE ASSURANCE ENGAGEMENT FOR SCOPE 3 EMIS-
 SIONS 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-RR 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:
   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.
 S. 897--B                           5
 
   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.
   3.  A. THE DEPARTMENT SHALL PREPARE A REPORT ON THE PUBLIC DISCLOSURES
 MADE BY REPORTING  ENTITIES  TO  THE  EMISSIONS  REPORTING  ORGANIZATION
 PURSUANT  TO SUBDIVISION 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 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.
   4. 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  TWO  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  TWO  OF
 THIS  SECTION  AND  THE  REPORT  PREPARED FOR THE DEPARTMENT PURSUANT TO
 SUBDIVISION THREE OF THIS SECTION. THE EMISSIONS REPORTING  ORGANIZATION
 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
 S. 897--B                           6
 
 SUBDIVISION TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF THE
 ASSEMBLY, AND THE GOVERNOR.
   5.  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.
   6. 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 sections 99-rr
 to read as follows:
   § 99-RR. 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. 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.